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Please include the steps and explanation as well. Thank you Iron Bank Pty Ltd is a company that pays its shareholders a very regular and
Please include the steps and explanation as well. Thank you
Iron Bank Pty Ltd is a company that pays its shareholders a very regular and consistent dividend stream forever: a $0.12 dividend at the end of every month except December, and a large $2.12 dividend every December. What is the total equity value for Iron Bank Pty Ltd on 1st January 2023 given the following information: - The cost of equity capital is a 13% effective annual rate. - The total number of shares outstanding is 100,000 . - Assume the first dividend (\$0.12) is in exactly 1 month from today, then 2 months, and so on. The next $2.12 annual dividend is in exactly 1 year from today. Any intermediate steps should be rounded to 4 or more decimal places. Round off your FINAL answer to the NEAREST DOLLAR and EXCLUDE the dollar sign (\$). For example, \$10,123.78 should be input as "10124". 2,710,698 (with margin: 1,000)Step by Step Solution
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