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I need help Question 26 7.5 pts Rocker Corp. is expanding rapidly, with its dividend growth rate for the coming year projected at 15.00%. This
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Question 26 7.5 pts Rocker Corp. is expanding rapidly, with its dividend growth rate for the coming year projected at 15.00%. This rate will decline by 3.00 percentage points per year until it reaches the industry average of 3.00%. Once it reaches 3.00%, it will stay there indefinitely. The most recent dividend was $5.00 per share. To clarify, Rocker makes a payment once per year and the expected dividend per share for the next five years is: D=$5.00(1.15)-$5.75 D2=$5.75(1.12)- $6.44 D3-$6.44(1.09)-$7.02 D4-$7.02(1.06)-$7.44 The market requires a return of 12.00% per year on investments such as this one. Based on this information, compute the current value of each share. Round your answer to the nearest penny. For example, $2,371.243 should be entered as 2371.24 Step by Step Solution
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