Question
Apple, Inc. just paid a dividend of $2.28 a share. Dividends are expected to grow at a rate of 12% per year for the next
Apple, Inc. just paid a dividend of $2.28 a share. Dividends are expected to grow at a rate of 12% per
year for the next three years and then at a rate of 3.5% thereafter. If your required rate of return is 9%,
what is the most that you should be willing to pay for a share of Apple stock today?
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International Financial Management
Authors: Jeff Madura
2nd Edition
0314430296, 978-0314430298
