Constant growth valuation-stock current value per share

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Constant growth valuation Thomas Brothers is expected to pay a $2.4 per share dividend at the end of the year (that is, D1 = $2.4). The dividend is expected to grow at a constant rate of 6% a year. The required rate of return on the stock, rs, is 14%. What is the stock's current value per share? Round your answer to two decimal places.

Reference no: EM131354415

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