White Wedding Corporation will pay a $2.40 per share dividend next year. The company pledges to...
|
White Wedding Corporation will pay a $2.40 per share dividend next year. The company pledges to increase its dividend by 7.10 percent per year indefinitely. |
| Required: |
|
If you require an 10.2 percent return on your investment, how much will you pay for the company's stock today? (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16)) |
| Current share price | $ |
Homework Answers
Using the constant growth model, we find the price of the stock today is:
P0 = D1 / (R − g) = $2.40 / (0.102 −0.0710) = $77.42
Add Answer to:
White Wedding Corporation will pay a $2.40 per share dividend
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