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6. The expected dividend of Arnold Co for next year has the following probability distribution: 20% $2.00, 30% $2.25, 40% $2.50, and 10% $2.75. The
6. The expected dividend of Arnold Co for next year has the following probability distribution: 20% $2.00, 30% $2.25, 40% $2.50, and 10% $2.75. The growth rate of Arnold is almost zero. If your required rate of return is 12%, find the price of an Arnold share in your estimation
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