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Oriole Corp. paid a dividend of $2.24 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the foreseeable
Oriole Corp. paid a dividend of $2.24 yesterday. The companys dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like Oriole require a rate of return of 16 percent, what should be the market price of Oriole stock? (Round dividend to 3 decimal places, e.g. 3.756 and round final answer to 2 decimal places, e.g. 15.25.) Market price $enter the market price of the stock rounded to 2 decimal places
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