Question
You have just purchased a share for $30.29. The company is expected to pay a dividend of $0.65 per share in exactly one year. If
You have just purchased a share for
$30.29.
The company is expected to pay a dividend of
$0.65
per share in exactly one year. If you want to earn a
9.7%
return on your investment, what price do you need if you expect to sell the share immediately after it pays the dividend?
The price one year from now should be
$nothing.
(Round to the nearest cent.)
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Get StartedRecommended Textbook for
Fundamentals of Investing
Authors: Scott B. Smart, Lawrence J. Gitman, Michael D. Joehnk
12th edition
978-0133075403, 133075354, 9780133423938, 133075400, 013342393X, 978-0133075359
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