A stock just paid a dividend of $1.06. The dividend is expected to grow at 29.06% for three years and then grow at 4.80% thereafter. The required return on the stock is 14.19%. What is the value of the stock? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A stock just paid a dividend of $1.06. The dividend is expected to grow at 29.06% for three years and then grow at 4.80%
thereafter. The required return on the stock is 14.19%. What is the value of the stock?
Submit
Answer format: Currency: Round to: 2 decimal places.
Show Hint
Transcribed Image Text:A stock just paid a dividend of $1.06. The dividend is expected to grow at 29.06% for three years and then grow at 4.80% thereafter. The required return on the stock is 14.19%. What is the value of the stock? Submit Answer format: Currency: Round to: 2 decimal places. Show Hint
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