Splish Natural Foods' current dividend is $11.50. You expect the growth rate to be 0...
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Splish Natural Foods' current dividend is $11.50. You expect the growth rate to be 0 percent for years 1 to 5, and 2 percent for years 6 to infinity. The required rate of return on this firm's equity is 8 percent.
Determine the price of the stock today. (Round answer to 2 decimal places, e.g. 45.17.)
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