: Problem 9.11 Nyeil, Inc., is a consumer products firm that is growing at a constant rate of 7.5 percent. The firm’s last dividend was
: Problem 9.11
Nyeil, Inc., is a consumer products firm that is growing at a constant rate of 7.5 percent. The firm’s last dividend was $3.36. If the required rate of return is 14.0 percent, what is the
market value of this stock if dividends grow at the same rate as the firm? (Do not round intermediate calculations. Round answer to 2 decimal places, e.g. 15.25.)
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