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Hiers Industries just paid a dividend of D0 = $3.00. Analysts expect the company's dividend to grow by 10% this year, by 5% in Year
Hiers Industries just paid a dividend of D0 = $3.00. Analysts expect the company's dividend to grow by 10% this year, by 5% in Year 2, and at a constant rate of 3% in Year 3 and thereafter. The required return on this stock is 9.00%. What is the per-share estimate of the stocks intrinsic value? a. $50.00 b. $53.33 c. $54.76 d. $56.01 e. $59.48
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