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Renew-it Rivonia is preparing to pay its first dividend. It will pay R1,20, R1,45 and...

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Accounting

Renew-it Rivonia is preparing to pay its first dividend. It will pay R1,20, R1,45 and R2 a share over the next three years, respectively. After that, the company has stated that the annual dividend will be R2,50 per share indefinitely. What is this stock worth to you, per share, if you demand a 10,8% rate of return on stocks of this type?

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