Dividend payment if required rate return

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Reference no: EM131835737

Briley, Inc., is expected to pay equal dividends at the end of each of the next two years. Thereafter, the dividend will grow at a constant annual rate of 5.7 percent, forever. The current stock price is $62. What is next year’s dividend payment if the required rate of return is 11 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Dividend payment $

Reference no: EM131835737

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