Herring Fisheries plans to pay $0.65 per share in dividends in the coming year.If its equity cost of capital is 11%,and dividends are expected to grow by 2.5% per year in the future,what is the value of Herring's stock?
A) $24.05
B) $7.84
C) $5.91
D) $7.65
E) $26.00
Correct Answer:
Verified
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