If brandmarts investors demand a 12 rate of return what


Yesterday BrandMart supplies paid its common stockholders a dividend equal to $3 per share. BrandMart expects to pay a $5 per share one year from today. After the $5 dividend is paid, the company expects its growth rate will remain constant at 4 percent per year forever. If BrandMarts investors demand a 12% rate of return, what should be the current market price of the company's stock?

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Financial Management: If brandmarts investors demand a 12 rate of return what
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