Question
A firm is expected to pay a dividend of $2.55 next year and $2.85 the following year. Financial analysts believe the stock will be at
| A firm is expected to pay a dividend of $2.55 next year and $2.85 the following year. Financial analysts believe the stock will be at their price target of $115 in two years. |
| Compute the value of this stock with a required return of 11.5 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Value of stock | $ ? |
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International Financial Management
Authors: Cheol Eun, Bruce Resnick
4th Edition
0072996862, 9780072996869
