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UTT Inc. is expected to pay a dividend of $2.70 and $2.28 over the next two years, respectively. After that, the company is expected
UTT Inc. is expected to pay a dividend of $2.70 and $2.28 over the next two years, respectively. After that, the company is expected to increase its annual dividend at 3 percent. What is the stock price today if the required return is 10.4 percent? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))
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Financial Markets and Institutions
Authors: Anthony Saunders, Marcia Cornett
6th edition
9780077641849, 77861663, 77641841, 978-0077861667
