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Summit Systems will pay a dividend of $0.50 a quarter from today. If you expect...

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Finance

Summit Systems will pay a dividend of $0.50 a quarter from today. If you expect Summit's quarterly dividend to grow by 3% per year on a quarterly compounded basis and its effective (i.e. APY) cost of equity capital is 8% on an annual basis, what is your estimate of its price per share? (1 point)

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