Problem 3 Whitewater Adventures has just paid a dividend of $4.00. An analyst...

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Accounting

Problem 3
Whitewater Adventures has just paid a dividend of $4.00. An analyst forecasts annual dividend growth of 9% for the
next five years at t=1,2,dots,5, after which dividends will decrease by 1% per year indefinitely at t=6,7,dots,). The
required return is 8%(EAR). What is the current value per share according to the analyst?
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