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Far Side Corporation is expected to pay the following dividends over the next four years: $14, $10, $6, and $2. Afterward, the company pledges to
Far Side Corporation is expected to pay the following dividends over the next four years: $14, $10, $6, and $2. Afterward, the company pledges to maintain a constant 7 percent growth rate in dividends forever.
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If the required return on the stock is 14 percent, what is the current share price? (Do not round your intermediate calculations.) |
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