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


Staton-Smith Software is a new up-start company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of $2.50 with a constant growth rate of 5% with the first dividend at the end of year six. What is the price of this stock if an investor wants a 10% return? ?

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