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QUESTION
Homework #5B (Value of Common Stock, Expected Rate of return on Common Stock)
Homework #5B (Value of Common Stock, Expected Rate of return on Common Stock)
Finance
Question 1 (1 point)
The last dividend of Delta, Inc. was $9.67, the growth rate of dividends is expected to be 2.81 percent, and the required rate of return on this stock is 8.14 percent. What is the stock price according to the constant growth dividend model?
Round the answer to two decimal places.
