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WWW Company currently (t = 0) earns $4 per share, and has a payout of 30 percent. Dividends are expected to grow at a constant
WWW Company currently (t = 0) earns $4 per share, and has a payout of 30 percent. Dividends are expected to grow at a constant rate of 3 percent per year. The required rate of return is 10 percent. The price of this stock would be estimated at $___. (Please use or round to 2 decimal places, if your answer is $12.3491, enter 12.35; if your answer is $12, enter 12.00)
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