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Lory Company had net earnings of $151,000 this past year of which $51,000 was paid out in dividends. The company's equity was $1,575,500. Lory has
Lory Company had net earnings of $151,000 this past year of which $51,000 was paid out in dividends. The company's equity was $1,575,500. Lory has 212,000 shares outstanding with a current market price of $14.03 per share. Both the number of shares and the dividend payout ratio are constant. What is the required rate of return if the growth rate is 8.0 percent?
R = 423.50%
please don't round steps
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