Question
The next dividend payment by Hoffman, Inc., will be $3.25 per share. The dividends are anticipated to maintain a growth rate of 3.00 percent forever.
The next dividend payment by Hoffman, Inc., will be $3.25 per share. The dividends are anticipated to maintain a growth rate of 3.00 percent forever. If the stock currently sells for $50.10 per share, what is the required return? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Required Return =
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Cost Accounting Foundations and Evolutions
Authors: Michael R. Kinney, Cecily A. Raiborn
9th edition
9781285401072, 1111971722, 1285401077, 978-1111971724
