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To purchase shares of Paylocity Inc. (ticker symbol: PCTY), Steven Beauchamp requires a return of 8.75%. Paylocity, which just paid an annual dividend of $1.30
To purchase shares of Paylocity Inc. (ticker symbol: PCTY), Steven Beauchamp requires a return of 8.75%. Paylocity, which just paid an annual dividend of $1.30 per share, expects to grow its annual dividend by 21% per year for the next 4 years. A 5% constant growth rate is subsequently expected. How much will Mr. Beauchamp pay today for one share of Paylocity? Multiple Choice $62.62 $55.16 $64.72 $58.65 $50.91
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