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You are investing in a share of stock. The share's most recent dividend was $9.13. The dividend is expected to grow forever at a rate

You are investing in a share of stock. The share's most recent dividend was $9.13. The dividend is expected to grow forever at a rate of 2.53% per year. You require a 8.59% rate of return on the stock investment. What is a fair price (or, value) for this share of stock?

(Answer to nearest $0.01)

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You are investing in a share of stock. The share's most recent dividend was $9.13. The dividend is expected to grow forever at a rate

You are investing in a share of stock. The share's most recent dividend was $9.13. The dividend is expected to grow forever at a rate of 2.53% per year. You require a 8.59% rate of return on the stock investment. What is a fair price (or, value) for this share of stock? (Answer to nearest $0.01)

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Step: 1

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You are investing in a share of stock. The share's most recent dividend was $9.13. The dividend is expected to grow forever at a rate of 2.53% per year. You require a 8.59% rate of return on the stock investment. What is a fair price (or, value) for this share of stock?

(Answer to nearest $0.01)