Question
A firm is expected to pay a dividend of $2.95 next year and $3.25 the following year. Financial analysts believe the stock will be at
| A firm is expected to pay a dividend of $2.95 next year and $3.25 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 13.2 percent. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) |
| Value of stock | $ |
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Money Banking And Financial Markets
Authors: Stephen G. Cecchetti
2nd International Edition
0071287728, 9780071287722
