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An ordinary share pays annual dividends at a constant growth rate of 5% p.a. The share has just paid a dividend of $1.70 yesterday. Using
An ordinary share pays annual dividends at a constant growth rate of 5% p.a. The share has just paid a dividend of $1.70 yesterday. Using the dividend discount model (DDM), calculate the value of the share today if the rate of return is 15% p.a. (Round you answer to the nearest cent) (2 marks)
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