What is one share of this stock worth today

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Reference no: EM131972228

M&D Enterprises paid its first annual dividend yesterday in the amount of $.28 a share.

The company plans to double each annual dividend payment for the next three years. After that time, it plans to pay a constant $2.25 per share indefinitely.

What is one share of this stock worth today if the market rate of return on similar securities is 11.5 percent?

Reference no: EM131972228

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