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Toucan Ltd is expected to pay its ordinary shareholders a dividend of $1.50 in one years time. It is projected that these dividends will decline

Toucan Ltd is expected to pay its ordinary shareholders a dividend of $1.50 in one years time. It is projected that these dividends will decline at a rate of 5% for the for-seeable future. If the ordinary share investors required rate of return is 9%, estimate the current value of each ordinary share.

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