Question
Tresnan Brothers is expected to pay a $3.80 per share dividend at the end of the year (i.e., D1= $3.80). The dividend is expected to
Tresnan Brothers is expected to pay a $3.80 per share dividend at the end of the year (i.e., D1= $3.80). The dividend is expected to grow at a constant rate of 4% a year. The required rate of return on the stock, rs, is 19%. What is the stock's current value per share? Round your answer to two decimal places.
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
