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QUESTION
BT, Inc. is expected to pay its first annual dividend five years from now. That payment will be $3.10 a share. Starting in year six, the company...
B&T, Inc. is expected to pay its first annual dividend five years from now. That payment will be $3.10 a share. Starting in year six, the company will increase the dividend by 2 percent per year. The required return is 15 percent. What is the value of this stock today?
