Current value of single share of spacefood stock, Accounting Basics

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Current value of single share of spacefood stock

Problem:

Spacefood Products will pay a dividend of $2.40 per share this year. It is expected that this dividend will grow by 3% per year each year in the future.

Required:

Question: What will be the current value of a single share of Spacefood's stock if the firm's equity cost of capital is 10%?

A) $24.00
B) $23.97
C) $30.22
D) $34.29

Note: Provide support for your underlying principle.

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Accounting Basics: Current value of single share of spacefood stock

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Accounting Basics: Current value of single share of spacefood stock

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