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The Pfazer Co. is a new, rapidly growing biotech firm. The company is planning on increasing its annual dividend by 20% a year for the
The Pfazer Co. is a new, rapidly growing biotech firm. The company is planning on increasing its annual dividend by 20% a year for the next four years and then settling at a growth rate of 5% per year. The company is just paid an annual dividend of $1.00 per share. What is the current price of the stock if required rate of return of 9.25%?
41.05
45.81
43.19(x)
35.63
38.19
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