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A dividend of $0.75 per share was paid yesterday. The growth rate, which applies to...

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Accounting

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A dividend of $0.75 per share was paid yesterday. The growth rate, which applies to both the dividend and the stock price, is 4% and it is assumed to remain constant over time. The required return on the stock is 9%. Using the dividend discount model, what is P3 ? Assume the market will be in equilibrium. $20.20 $16.87 $15.60 $24.33 $17.55

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