Management expects dividend growth rate to be constant

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Staggert Corp. will pay dividends of $5.00, $6.25, $4.75, and $3.00 in the next four years. Thereafter, management expects the dividend growth rate to be constant at 6.50 percent. If the required rate of return is 18.0 percent, what is the current value of the stock? (Round intermediate calculations and final answer to 2 decimal places, e.g. 15.20.) Current value $

Reference no: EM131360996

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