Shackleford corporation net income this year is $800,000. the company generally retains 35% of net income for reinvestment. the company's common equity currently has a book value of 5,000,000. they just paid a dividend of $1.37, and the required rate of return on this stock is 12%. compute tha value fo this stock if dividends are expected to continue growing indefinitley at the comoanys interal growth rate
a. $22.61
b.$15.63
c. $11.42
d. $4.35
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