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BP recently cut it's dividend and now pays a $9.40 annual cash dividend ( D 0 ). Markets expect the dividend to remain at this
BP recently cut it's dividend and now pays a $9.40 annual cash dividend (D0). Markets expect the dividend to remain at this level for a very long time. No future dividend growth is anticipated.
The required rate of return by common stockholders (Ke) is 12 percent. What is the price of the common stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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