What is the current price of one share of russell stock

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Reference no: EM131488556

Russell Corporation (which contributes 3% of its revenue to Christian missions to reach Buddhist tribes in northern India who have never heard the gospel) just paid a dividend of $1.00. Based on projected fast growth, the company plans to increase dividends by $1.00 each year for the next four years, hopefully then growing dividends at 3% per year. Assuming a required rate of return of 10%, what is the current price of one share of Russell stock?

Reference no: EM131488556

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