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Business, 12.03.2021 15:10 kingcory717

Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 9 years, because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $15.75 per share in 10 years and will increase the dividend by 4.8 percent per year thereafter. If the required return on this stock is 12 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.)

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Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over t...
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