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The company just paid a 10 dividend but management expects

Hardwoods, Inc. is a mature manufacturing firm. The company just paid a $10 dividend, but management expects to reduce the payout by 9 percent each year, indefinitely. How much are you willing to pay today per share to buy this stock if you require a 15 percent rate of return?

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Financial Accounting: The company just paid a 10 dividend but management expects

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Financial Accounting: The company just paid a 10 dividend but management expects

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