Question
Northern Star Motor Company's last dividend payment was $1.08. The company's cost of equity funds is14.9% paand its expected future dividend growth rate is4.6% pa.
Northern Star Motor Company'slastdividend payment was $1.08. The company's cost of equity funds is14.9% paand its expected future dividend growth rate is4.6% pa. Using the constant dividend growth model, calculate Northern Star Motor Company's share price(P). Give your answer in dollars and cents to the nearest cent.
P =$
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
