What is the approximate price per share

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Question - The Rocket Growth Company has a common stock outstanding that pays a current dividend of $2 per share. Investors expect the dividend to increase 15% by the end of the year and thereafter to grow at a rate of 4% annually. The same investors would like to earn a return of 10.00% on securities with that particular risk. You own some of these Rocket common shares and would like to sell them to one of these investors - what is the approximate price per share that you expect to receive from an investor?

Reference no: EM133121700

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