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Lucky K Enterprises is growing by leaps and bounds. As a result, the company expects to increase their dividend to $.80, $1.70, and $2.20 over
Lucky K Enterprises is growing by leaps and bounds. As a result, the company expects to increase their dividend to $.80, $1.70, and $2.20 over the next three years, respectively. After that, the dividend is projected to increase by 5 percent annually. The last annual dividend the firm paid was $.25 a share. What is the current value of this stock if the required return is 18 percent?
Please show how to do this on the TI-84 calculator or in step by step if done by hand. the answer is 14.05
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