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Darden Restaurants is expected to pay annual dividends of $1.90 and $2.10 over the next...

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Accounting

Darden Restaurants is expected to pay annual dividends of $1.90 and $2.10 over the next two years, respectively. After that, the company expects to pay a constant dividend of $2.30 a share. What is the value of this stock at a required return of 16 percent? Hint: You will need to use the general dividend discount model and the dividend discount model with no dividend growth to answer this question. $12.44 $14.60 $13.89 $13.30

DO NOT COPY FROM CHEGG I NEED A FULL EXPLANATTION

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