Wheels and More,Inc.normally pays an annual dividend.The last such dividend paid was $3.00,all future dividends are expect to grow at a rate of 8 percent per year,and the firm faces a require rate of return on equity of 12 percent.If the firm just announced that the next dividend will be an extraordinary dividend of $7 per share that is not expected to affect any other future dividends,what should the stock price be?

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The Answer of Wheels and More,Inc.normally pays an annual dividend.The last such dividend paid was $3.00,all future dividends are expect to grow at a rate of 8 percent per year,and the firm faces a require rate of return on equity of 12 percent.If the firm just announced that the next dividend will be an extraordinary dividend of $7 per share that is not expected to affect any other future dividends,what should the stock price be?