Question
A firm is expected to pay a dividend of $3.35 next year and $3.65 the following year. Financial analysts believe the stock will be at
A firm is expected to pay a dividend of $3.35 next year and $3.65 the following year. Financial analysts believe the stock will be at their price target of $110 in two years.
| Compute the value of this stock with a required return of 12.7 percent. (Do not round intermediate calculations and round your final answer to 2 decimal places.) |
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
