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The Fleming Corporation paid a dividend of $0.70 last year. Over the next 12 months, the dividend is expected to grow at 12 percent, which
The Fleming Corporation paid a dividend of $0.70 last year. Over the next 12 months, the dividend is expected to grow at 12 percent, which is the constant growth rate for the firm. The new dividend after 12 months will represent D; The required rate of return is 17 percent. Compute the price of a common share. (Round the final answer to 2 decimal places.) Common share price
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