Calculate the current value of perry stock

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Reference no: EM131999442

Perry, Inc. has just paid a $1.00 annual dividend on its common stock. The dividend is expected to grow at a constant rate of 2% per year indefinitely. Based on market risk conditions and Perry’s beta value, the required rate of return on Patriot’s stock is 16%. Calculate the current value of Perry’s stock.

Reference no: EM131999442

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