Gilliland Motor Limited just paid a dividend of $1.65 on its ordinary shares.This company's dividends are expected to grow at a constant rate of 3% indefinitely.If the required rate of return on this share is 11%,compute the current value of per share of GML's shares.
A) $20.63
B) $21.24
C) $15.00
D) $55.00
Correct Answer:
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