Business, 08.04.2020 00:55 chrischris1

Assume today is December 31, 2013. Imagine Works Inc. just paid a dividend of $1.20 per share at the end of 2013. The dividend is expected to grow at 15% per year for 3 years, after which time it is expected to grow at a constant rate of 6% annually. The company's cost of equity (rs) is 9.5%. Using the dividend growth model (allowing for nonconstant growth), what should be the price of the company's stock today (December 31, 2013)?

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Assume today is December 31, 2013. Imagine Works Inc. just paid a dividend of $1.20 per share at the...

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