Bongo Boards, Inc. plans to pay an annual dividend of $2.60 a share on its common stock
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Question:
Bongo Boards, Inc. plans to pay an annual dividend of $2.60 a share on its common stock next year. This year, Bongo paid a dividend of $2.50 a share. The company adheres to a constant rate of growth dividend policy.What will one share of Bongo's common stock be worth five years from now if the applicable discount rate is 6.75percent?
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