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4. Clinch recently paid a $3.00 dividend on its common stock. The dividend is expected to grow at a rate of5.00 %. Ifyou requ

please answer with explanation on how to solve this, thank you in advance! using a BA II plus if needed!

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Answer #1

Price of share = D1 / required rate - growth rate

Price of share = (3 * 1.05) / 0.12 - 0.05

Price of share = 3.15 /0.07

Price of share = $45

There if no need for financial calculator

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