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Golden Enterprises Inc. is expected to pay a $ 4 . 5 0 per share dividend at the end of this year ( i .

Golden Enterprises Inc. is expected to pay a $4.50 per share dividend at the end of this year (i.e., D1= $4.50). The dividend is expected to grow at a constant rate of 5% a year. The required rate of return on the stock is, rs, is 9.2%. Using the constant dividend growth model, what is the estimated value per share of the companys stock?

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