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Crane Corp. paid a dividend of $2.60 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the foreseeable
Crane Corp. paid a dividend of $2.60 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like Crane require a rate of return of 20 percent, what should be the market price of Crane stock?
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