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Morgan Company's last dividend (Do) was $2.90. Its dividend growth rate is expected to be constant at 24% for 2 years, after which dividends
Morgan Company's last dividend (Do) was $2.90. Its dividend growth rate is expected to be constant at 24% for 2 years, after which dividends are expected to grow at a rate of 6% forever. If the company's required return is 12%, what is your estimate of its current stock price?
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Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
13th International Edition
1265533199, 978-1265533199
