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Help! Thanks! Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $8.55 per share and has announced that
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Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $8.55 per share and has announced that it will increase the dividend by $10.00 per share for each of the next four years, and then never pay another dividend. Required: If you require a return of 15 percent on the company's stock, how much will you pay for a share today? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Current share price $Step by Step Solution
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