What is next year dividend payment if the required rate

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Reference no: EM131978265

Briley, Inc., is expected to pay equal dividends at the end of each of the next two years. Thereafter, the dividend will grow at a constant annual rate of 5.5 percent, forever. The current stock price is $60.

What is next year’s dividend payment if the required rate of return is 15 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM131978265

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