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Cherrys owners expect to pay a 200 dividend and plan to

Show me the math please on this question: Cherry Auto Sales just opened and does not expect to pay a dividend during its first year. At the end of its second? year, Cherry's owners expect to pay a? $2.00 dividend and plan to increase it? 7% annually. If the required return is? 20%, what should? Cherry's stock price? be?

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Finance Basics: Cherrys owners expect to pay a 200 dividend and plan to

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