What is the fair price for TCT shares today

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Question - Terrapin Crossroads Transport (TCT) Inc. just paid its annual dividend of $15 yesterday. The next dividend will be paid in one year and it will be 6% larger than yesterday's. Analysts expect TCT's dividends to continue to grow in perpetuity at that same rate. TCT stockholders require a return of 12%. What is the fair price for TCT's shares today?

Reference no: EM133072462

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