PLEASE SOLVE IN EXCEL. PROBLEM MUST BE WORKED OUT IN EXCEL CX...
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PLEASE SOLVE IN EXCEL. PROBLEM MUST BE WORKED OUT IN EXCEL
CX Enterprises has the following expected dividends: $1.12 in one year, $1.24 in two years, and $1.32 in three years. After that, its dividends are expected to grow at 3.6% per year forever (so that year 4's dividend will be 3.6% more than $1.32 and so on). If CX's equity cost of capital is 12.1%, what is the current price of its stock? The price of the stock will be $ 14.24. (Round to the nearest cent.)
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