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SheffieldSupplies Ltd. currently doesn't pay any dividends but is expected to start paying dividends in five years. The first dividend is expected to be $1.40and
SheffieldSupplies Ltd. currently doesn't pay any dividends but is expected to start paying dividends in five years. The first dividend is expected to be $1.40and is expected to grow at5.0percent thereafter. The required rate of return for the firm is9.0percent. What isSheffield's current stock price?(Round intermediate calculations to 3 decimal places, e.g. 20.417 and the final answer to 2 decimal places, e.g. 15.61.)
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