Happy Feet Shoe Co. paid a dividend of $8.32 on its common stock at the...
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Happy Feet Shoe Co. paid a dividend of $8.32 on its common stock at the end of last year. This company's dividends are expected to grow at a constant rate of 2% indefinitely. If the firm's beta is 2.74, the risk free rate is 3, and the market risk premium is 18, what is the value per share of Happy Feet's stock? (your answer should be to two decimal places)
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