Question
ABC, Inc. is expected to pay a dividend of $3.22 next year. The dividends are expected to grow at 8.38% each year forever. The required
ABC, Inc. is expected to pay a dividend of $3.22 next year. The dividends are expected to grow at 8.38% each year forever. The required rate of return on the stock is 15.42%. What is today's price of the stock?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box.
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
