Your personal opinion is that a security has an expected


Your personal opinion is that a security has an expected rate of return of 0.WD stock will pay no dividends for four years. In year five it will pay a $3 dividend (DIV5 =3). The dividend will then grow at a 5% rate forever after that. The discount rate on WD stock is 10%. What is the present value of the stock price at time 4?

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Financial Management: Your personal opinion is that a security has an expected
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