Dipstick Auto Repairs is selling shares for $42.00 per share and pays a dividend. The projected growth rate for the company is 2.50%. Assuming the stocks required rate of return is 5.0%. What was the last dividend, Do? (Round to two decimals) O $1.06 O $1.02 $2.08 O $1.75 O $0.85

Dipstick Auto Repairs is selling shares for $42.00 per share and pays a dividend. The projected growth rate for the company is 2.50%. Assuming the stocks required rate of return is 5.0%. What was the last dividend, Do? (Round to two decimals) O $1.06 O $1.02 $2.08 O $1.75 O $0.85

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter8: Basic Stock Valuation

Section: Chapter Questions

Problem 2P

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Dipstick Auto Repairs is selling shares for $42.00 per share and pays a dividend. The projected growth rate for the company is 2.50%.
Assuming the stocks required rate of return is 5.0%. What was the last dividend, Do? (Round to two decimals)
$1.06
$1.02
$2.08
O $1.75
O $0.85

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