Staton-smith software is a new start-up company and will


Staton-Smith Software is a new? start-up company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of ?$3.75 with a constant growth rate of 6?%, with the first dividend at the end of year six. The company will be in business for 25 years total. What is the? stock's price if an investor wants

a. a return of 11%?

b. a return of 15%?

c. a return of 22 ?%?

d. a return of 38 %?

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Financial Management: Staton-smith software is a new start-up company and will
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