Question
JL Tools is a young start-up company. The company expects to pay its first dividend of $1.50 a share in Year 5 with annual
JL Tools is a young start-up company. The company expects to pay its first dividend of $1.50 a share in Year 5 with annual dividend increases of 2.5 percent thereafter. At a required return of 10 percent, what is the current share price?
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