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Your broker has recommended that you purchase stock in National Bank & Trust, Inc. National Bank & Trust recently paid its annual dividend of $8.
Your broker has recommended that you purchase stock in National Bank & Trust, Inc. National Bank & Trust recently paid its annual dividend of $8. The firm has an ROE of 15% and pays out 50% of its earnings as dividends. Based on your analysis, you estimate that the stock has a required return of 15%. What is the intrinsic value of this stock?
Group of answer choices
$119.60
$123.32
$114.67
$106.98
$112.58
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