Arcs and triangles paid an annual dividend of $1.47 a share last month. The company is planning on paying $1.52 $1.58 and $1.60 a share over the next three years respectively after that, the dividend will be constant at $1.96 per share per year. What is the market price of the stock if the market rate of return is 10.7%? 
Arcs and triangles paid an annual dividend of $1.47 a share last month. The company is planning on paying $1.52 $1.58 and $1.60 a share over the next three years respectively after that, the dividend will be constant at $1.96 per share per year. What is the market price of the stock if the market rate of return is 10.7%? 
Chapter7: Common Stock: Characteristics, Valuation, And Issuance
Section: Chapter Questions
Problem 17P
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Arcs and triangles paid an annual dividend of $1.47 a share last month. The company is planning on paying $1.52 $1.58 and $1.60 a share over the next three years respectively after that, the dividend will be constant at $1.96 per share per year. What is the market price of the stock if the market rate of return is 10.7%? 
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