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Please include work, steps and formulas. The Ellerton Co. is expected to pay dividends of $4.10, $4.65 and $4.90 at the end of years 1,
Please include work, steps and formulas. 
The Ellerton Co. is expected to pay dividends of $4.10, $4.65 and $4.90 at the end of years 1, 2 and 3, respectively. It is estimated that its share price will be $65.85 exactly three years from today. Let te be 15.6%. (a) Calculate the present value of the three dividends payments
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Handbook Of The Economics Of Finance Corporate Finance Volume 1A
Authors: George M. Constantinides, M. Harris, Rene M. Stulz
1st Edition
