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Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $25, $15, $6.6 and $3.1. Afterwards, the company pledges to
Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $25, $15, $6.6 and $3.1. Afterwards, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price? |
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