Question
Nofal Corporation will pay a $4.35 per share dividend next year. The company pledges to increase its dividend by 5.5 percent per year, indefinitely. Required:
| Nofal Corporation will pay a $4.35 per share dividend next year. The company pledges to increase its dividend by 5.5 percent per year, indefinitely. |
| Required: |
| If you require a return of 9 percent on your investment, how much will you pay for the companys stock today? (Do not round intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) |
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Intermediate Financial Management
Authors: Brigham, Daves
10th Edition
978-1439051764, 1111783659, 9780324594690, 1439051763, 9781111783655, 324594690, 978-1111021573
