Synovec Corporation is expected to pay the following dividends over the next four years: $6.00, $17.00, $22.00, and $3.80. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. If the required return on the 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.)

Synovec Corporation is expected to pay the following dividends over the next four years: $6.00, $17.00, $22.00, and $3.80. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. If the required return on the 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.)

Name: Synovec Corporation is expected to pay the following dividends over th
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Description: Synovec Corporation is expected to pay the following dividends over the next four years: $6.00, $17.00, $22.00, and $3.80. Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. If the required return on the

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter8: Basic Stock Valuation

Section: Chapter Questions

Problem 2P

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