orever 21 is expected to pay an annual dividend of $3.52 per share in one year, which is then expected to grow by 8% per year. The required rate of return is 14%. What is the stock's value?

Intermediate Financial Management (MindTap Course List)
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ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter8: Basic Stock Valuation
Section: Chapter Questions
Problem 2P
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orever 21 is expected to pay an annual dividend of $3.52 per share in one year, which is then expected to grow by 8% per year. The required rate of return is 14%.

What is the stock's value?

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