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Solve the problem CX Enterprises has the following expected dividends: $1.13 in one year, $1.21 in two years, and $1.29 in three years. After that,
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CX Enterprises has the following expected dividends: $1.13 in one year, $1.21 in two years, and $1.29 in three years. After that, its dividends are expected to grow at 4.5% per year forever (so that year 4's dividend will be 4.5% more than $1.29 and so on). If CX's equity cost of capital is 12.2%, what is the current price of its stock? ID The price of the stock will be s (Round to the nearest cent.)Step by Step Solution
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