Patience, Inc., just paid a dividend of $2.35 per share on its stock. The dividends are expected to grow at…
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Patience, Inc., just paid a dividend of $2.35 per share on its stock. The dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. Assume investors require an 11 percent return on this stock. What is the current price?
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