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Homewok #5B (Value of Common Stock, Expected Rate of return on Common Stock

Homewok #5B (Value of Common Stock, Expected Rate of return on Common Stock

Homewok #5B (Value of Common Stock, Expected Rate of return on Common StockFinanceQuestion 3 (1 point) The Black Forest Cake Company just paid an annual dividend of $5.80. If you expect a constant growth rate of 4.82 percent, and have a required rate of return of 8.82 percent, what is the current stock price according to the constant growth dividend model?Round the answer to two decimal places.

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