If the required return is 12 percent and the company just


Analysts believe MKM Corp.’s dividends are expected to grow at a rate of 15 percent for the next two years, with the growth rate falling off to a constant 5 percent thereafter. If the required return is 12 percent, and the company just paid a dividend of $1.65, what is the current share price? ___________ .

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Financial Management: If the required return is 12 percent and the company just
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