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Hanks Barbecue just paid a dividend of $2.00 per share. The dividends are expected to grow at a 14.0 percent rate for the next five
Hanks Barbecue just paid a dividend of $2.00 per share. The dividends are expected to grow at a 14.0 percent rate for the next five years and then level off to a 9.0 percent growth rate indefinitely. If the required return is 12.0 percent, what is the value of the stock today? What if the required return is 17.0 percent?
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