FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Liphips Ltd has just paid a dividend per share of €1.20. Shares are valued only on the basis of 
expected dividends. An annual sustainable growth of dividends of 4% is assumed. The 
appropriate discount rate (i) is 10% per year. The planning horizon is limited to 20 years. 
Compute the share value.

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