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Greshak Corp. has common stock outstanding that recently paid a dividend of $8.00. If the expected long-term growth rate for this stock is 3.0 percent,
Greshak Corp. has common stock outstanding that recently paid a dividend of $8.00. If the expected long-term growth rate for this stock is 3.0 percent, and if investors require an 11.0 percent rate of return, what is the price of Greshak's stock? MAKE SURE YOU USE AT LEAST 4 DECIMAL PLACES WHERE APPLICABLE. YOU MUST TYPE IN ANSWER AND ALL OF YOUR WORK (INCLUDING INTERMEDIATE CALCULATIONS) TO RECEIVE CREDIT. 1 Ff A- B T- iii TH
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