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A if investors require a 10 percent return on the

The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.34 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely.

Required:

(a) If investors require a 10 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price?

$28.14

$26.80

$28.70

$27.58

$8.93

(b) What will the price be in 12 years?

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Finance Basics: A if investors require a 10 percent return on the

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Finance Basics: A if investors require a 10 percent return on the

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