Question
CAR Automotive just paid a dividend of $1.00 last year, and that dividend is expected to grow at a constant rate of 5.00% per year
CAR Automotive just paid a dividend of $1.00 last year, and that dividend is expected to grow at a constant rate of 5.00% per year in the future. If an investor expects to earn 10% on this security, what is CAR's current stock price?
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Financial Management Principles and Application
Authors: Arthur J. Keown, J. William Petty, David F. Scott, Jr.
10th edition
536514119, 536514110, 978-0536514110
