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Please solve both parts in 30 minute i will upvote you Q3) (8 points total) J.C. Penney Company is expected to pay a dividend in
Please solve both parts in 30 minute i will upvote you
Q3) (8 points total) J.C. Penney Company is expected to pay a dividend in year 1 of $1.65, a dividend in year 2 of $1.97, and a dividend in year 3 of $2.54. After year 3, dividends are expected to grow at the rate of 8% per year. An appropriate required return for the stock is 11%. (30) (4 points) What is the present value (from the perspective of today) of the stream of dividends after year 3? (36) (4 points) What should the stock sell for todayStep by Step Solution
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