JLT is a mature manufacturing firm.The company just paid an annual dividend of $3.62, but management expects to reduce future payouts by 3.5 percent per year, indefinitely.What is this stock worth today at a required return of 12.5 percent?
A) $21.42
B) $21.83
C) $20.24
D) $23.56
E) $20.02
Correct Answer:
Verified
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