EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN: 9781337514835
Author: MOYER
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Transcribed Image Text:Questions Of General Account
Microsoft Corp. will pay a dividend of $2.04 per share next year.
Investors anticipate that the annual dividends will grow by 2% per year
forever, and they require a 12% discount rate.
Calculate the value of the stock.
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