Question
Summit Systems will pay an annual dividend of $1.53 this year. If you expect Summit's dividend to grow by 6.5% per year, what is its
Summit Systems will pay an annual dividend of $1.53 this year. If you expect Summit's dividend to grow by 6.5% per year, what is its price per share if the firm's equity cost of capital is 11.2%?
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Part 1
The price per share is $ Enter your response here. (Round to the nearest cent.)
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
