Sullivan Brothers is expected to pay a $1.75 per share dividend at the end of the...
Sullivan Brothers is expected to pay a $1.75 per share dividend at the end of the year (that is, D 1 = $1.75). The dividend is expected to grow at a constant rate of 3 percent a year. The required rate of return on the stock, r s, is 9 percent. What is the stock’s value per share?
| a. |
$29.17 |
|
| b. |
$19.44 |
|
| c. |
$20.03 |
|
| d. |
$28.32 |
|
| e. |
$30.04 |
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Sullivan Brothers is expected to pay a $1.75 per share dividend
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