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I plugged this equation into excel but it gives me the wrong answer, can you help? =10.9*(1-4.5%) Antiques R Us is a mature manufacturing firm.
I plugged this equation into excel but it gives me the wrong answer, can you help?
=10.9*(1-4.5%)
Antiques R Us is a mature manufacturing firm. The company just paid a dividend of $10.90, but management expects to reduce the payout by 4.5 percent per year, indefinitely. If you require a return of 8 percent on this stock, what will you pay for a share today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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