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Burnett Corp. pays a constant $7.85 dividend on its stock. The company will maintain this dividend...

Burnett Corp. pays a constant $7.85 dividend on its stock. The company will maintain this dividend for the next 12 years and will then cease paying dividends forever. If the required return on this stock is 9 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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jeff jeffy answered 2 years ago
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