
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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The next dividend payment by Im, Incorporated, will be $1.64 per share. The dividends
are anticipated to maintain a growth rate of 8 percent forever. If the stock currently sells
for $31 per share, what is the required return? (Do not round intermediate calculations
and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
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