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Piedmont Enterprises currently pays a dividend of $1 per share. This dividend is expected to grow to a 20 percent per year rate for the
Piedmont Enterprises currently pays a dividend of $1 per share. This dividend is expected to grow to a 20 percent per year rate for the next two years, after which it is expected to grow at 6 percent per year for the foreseeable future. If you require a 15% return of return on an investment of this type, what price do you expect the stock to sell for at the beginning of year 5
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