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A stock is expected to have a dividend per share of 060 at

A stock is expected to have a dividend per share of $0.60 at the end of the year. (D1=0.60). The growth rate for dividend is expected to be zero percent, if the stock has a required return rate of 12 percent. What is the expected price of the stock five years from today? (That is, what is P5?)

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Financial Management: A stock is expected to have a dividend per share of 060 at

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