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Ex 5. Delphi Products Corporation currently pays a dividend of $2 per share, and this dividend is expected to grow at a 15 percent
Ex 5. Delphi Products Corporation currently pays a dividend of $2 per share, and this dividend is expected to grow at a 15 percent annual rate for three years, and then at a 10 percent rate for the next three years, after which it is expected to grow at a 5 percent rate forever. What value would you place on the stock if an 18 percent rate of return was required?
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