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Please find share price (7.9) McCabe Corporation is expected to pay the following dividends over the next four years: $5.40,$16.40, $21.40, and $3.20. Afterward, the
Please find share price (7.9)
McCabe Corporation is expected to pay the following dividends over the next four years: $5.40,$16.40, $21.40, and $3.20. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 9 percent, what is the current share price? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16Step by Step Solution
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