A stock pays annual, fixed dividends of $11 forever. The first dividend will occur one...
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Accounting
A stock pays annual, fixed dividends of $11 forever. The first dividend will occur one year later (i.e., at time node t = 1). Assuming a required rate of return of 11%, what is the value of the stock? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67)
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