Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Apple Inc. issued AAPL stock. The stock has a face value of $30. The company currently pays a dividend of $3.6 per share. It is estimated that the company's dividend will grow at a constant rate of 10%. The stock's required rate of return is 14%. What is your estimation of the stock's current price?
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