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NoGrowth Corporation currently pays a dividend of $0.44
per quarter, and it will continue to pay this dividend forever. What is the price per share of NoGrowth stock if the firm's equity cost of capital is
12.4%?
to get the stock price Is the formula (1+0.124)^-1 then the answer I get from this divided by 0.44 how do I do this on calculator cant figure it out
the stock price is
(Round to the nearest cent.)
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