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Adnin Bhd currently pays a dividend of RM0.50 per share. The dividends are expected to grow at an annual rate of 5% per annum indefinitely

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Adnin Bhd currently pays a dividend of RM0.50 per share. The dividends are expected to grow at an annual rate of 5% per annum indefinitely from next year. Its common stock is currently selling at RM6.00. If you want to earn a 15% rate of return, calculate the maximum price you should pay for the common stock

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