Question
ConcordTire's current dividend is $4.90. Dividends are expected to grow by20percent for years 1 to 3 and10percent thereafter. The required rate of return on the
ConcordTire's current dividend is $4.90. Dividends are expected to grow by20percent for years 1 to 3 and10percent thereafter. The required rate of return on the stock is15percent. What isConcord's current stock price?(Round intermediate calculations to 4 decimal places, e.g. 7.1285 and final answer to 2 decimal places, e.g. 115.61.)
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
13th edition
978-1285027371, 128502737X, 978-1133541141
