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Suppose that in 2 0 1 2 the expected dividends of the stocks in a broad market index equaled $ 2 4 0 million when
Suppose that in the expected dividends of the stocks in a broad market index equaled $ million when the discount rate was and the expected growth rate of the dividends equaled Using the constantgrowth formula for valuation, if interest rates increase to the value of the market will change by
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