Question
Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $8.75 per share and has announced that it will
| Hot Wings, Inc., has an odd dividend policy. The company has just paid a dividend of $8.75 per share and has announced that it will increase the dividend by $6.75 per share for each of the next four years, and then never pay another dividend. |
| Required: |
| If you require a return of 13 percent on the companys stock, how much will you pay for a share today? |
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Fundamentals Of Corporate Finance
Authors: Stephen A. Ross, Randolph Westerfield, Bradford D. Jordan
6th Edition
0072553073, 9780072553079
