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Keith designs, Inc., is expanding rapidly: hence, the firm anticipates no dividend payout for nine years in order to cover part of its financing needs.
Keith designs, Inc., is expanding rapidly: hence, the firm anticipates no dividend payout for nine years in order to cover part of its financing needs. KD's financial manager forecasts to approve its first dividend by 2029, in the amount of $12 per share. The expectations are that the dividend will increase by 4 percent annually If the average investor requires a 12 percent return in stock, what is the current share price?
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