Question
Good afternoon! If possible, can you help and please teach me how in excel? Bretton, Inc., just paid a dividend of $3.70 on its stock.
Good afternoon!
If possible, can you help and please teach me how in excel?
Bretton, Inc., just paid a dividend of $3.70 on its stock. The growth rate in dividends is expected to be a constant 7 percent per year, indefinitely. Investors require a return of 16 percent on the stock for the first three years, a rate of returnof14 percent for the next three years,and then a return of 12 percent thereafter.
What is the current share price for the stock?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Thank you!
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