Value of the common stock-investors require a rate of return

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Gilliland Motot, Inc., paid a $4.46 dividend last year. If Gilliland's return on equity is 31%, and its retention rate is 31%, what is the value of the common stock if the investors require a rate of return of 18%?

The value of the common stock is ___________

Reference no: EM13847886

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