What is the estimated value per share of boehms stock

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Constant Growth Valuation Boehm Incorporated is expected to pay a $1.10 per share dividend at the end of this year (i.e., D1 = $1.10). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, rs, is 11%. What is the estimated value per share of Boehm's stock? Round your answer to the nearest cent.

Reference no: EM131308845

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