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Step by step including formula and excel function: 17. Errico Enterprises just paid a $8 per share annual dividend with the stated intention of increasing
Step by step including formula and excel function: 17. Errico Enterprises just paid a $8 per share annual dividend with the stated intention of increasing its dividends by 5.25% annually. You would like to purchase stock in this company but realize that you will not have the funds to do so for another 4 years. If you require a 15% annual rate of return, how much will you be willing to pay per share for the stock when you can afford to make this investment? 18. Apple Inc. recently paid a $5.60 annual dividend on its common stock, which is expected to increase at an average rate of 7% per year. If the stock is currently trading for $175 per share, what is its market rate of return
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