Monday 17 February 2020

Pickett Industries just paid a dividend of D0 = $1.10. Analysts expect the company's

Pickett Industries just paid a dividend of D0 = $1.10. Analysts expect the company's dividend to grow by 20% this year, by 10% in Year 2, and at a constant rate of 3% in Year 3 and thereafter. The required return on this low-risk stock is 8.00%. What is the per-share estimate of the stock’s intrinsic value?

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