Question
Tresnan Brothers is expected to pay a $1.90 per share dividend at the end of the year (i.e., D1= $1.90). The dividend is expected to
Tresnan Brothers is expected to pay a $1.90 per share dividend at the end of the year (i.e., D1= $1.90). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, rs, is 11%. What is the stock's current value per share? Round your answer to two decimal places.
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Modern Portfolio Theory and Investment Analysis
Authors: Edwin Elton, Martin Gruber, Stephen Brown, William Goetzmann
9th edition
9781118805800, 1118469941, 1118805801, 978-1118469941
