Cornwing corporation pays a constant 400 dividend on its, Financial Management

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Cornwing corporation pays a constant 400 dividend on its

Stock Valuation

Cornwing Corporation pays a constant $4.00 dividend on its stock. The company will maintain this dividend for the next 12 years and will then cease paying dividends forever. If the required return on this stock is 15 percent, what is the current share price?

Current stock price: $ ____________

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