Multiple Choice
Harvey County Choppers,Inc.is experiencing rapid growth.The company expects dividends to grow at 25 percent per year for the next 7 years before leveling off to 7 percent into perpetuity.The required return on the stock is 12 percent.What is the current stock price if the annual dividend share that was just paid was $1.05?
A) $60.15
B) $64.36
C) $67.37
D) $72.11
E) $75.19
Correct Answer:
Verified
Correct Answer:
Verified
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