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$10.99 Taylor Corp. is growing quickly. Dividends are expected to grow at a 32 percent
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| Taylor Corp. is growing quickly. Dividends are expected to grow at a 32 percent rate for the | ||||||||
| next three years, with the growth rate falling off to a constant 6.7 percent thereafter. | ||||||||
| Required: | ||||||||
| If the required return is 14 percent and the company just paid a $3.10 dividend, what is the | ||||||||
| current share price? (Hint: Calculate the first four dividends.) (Do not include the dollar sign | ||||||||
| ($). Round your answer to 2 decimal places (e.g., 32.16).) |
$10.99
Taylor Corp. is growing quickly. Dividends are expected to grow at a 32 percent
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- Posted on Jun. 20, 2012 at 10:54:58AM
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