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Recently, Ford paid an annual dividend of $0.40 per share (D0). Assume the cost of equity (ke) for the auto firm is 7.75% and the

Recently, Ford paid an annual dividend of $0.40 per share (D0). Assume the cost of equity (ke) for the auto firm is 7.75% and the market projects long-term dividend growth of 6.00% per year. Estimate the projected or implied fair value of the companys stock using the dividend growth model [V= D1/(ke g)].

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