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Reliable Motors shares are expected to pay dividends of $2.00, $1.15, and $1.20 at the end of each of the next three years, respectively.
Reliable Motors shares are expected to pay dividends of $2.00, $1.15, and $1.20 at the end of each of the next three years, respectively. The investor expects the price of the shares at the end of this 3-year holding period to be $60.00. The investor's required rate of return is 11.5%. Calculate the current value of Reliable's shares. $ Number Round your answer to the nearest cent
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
78025915, 978-1259115400, 1259115402, 978-0078025914
