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Galloway, Inc. has an odd dividend policy. The company has just paid a dividend of $4 per share and has announced that it will increase
Galloway, Inc. has an odd dividend policy. The company has just paid a dividend of $4 per share and has announced that it will increase the dividend by $3 per share for each of the next 5 years, and then never pay another dividend. How much are you willing to pay per share today to buy this stock if you require a 13 percent return?
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