Lohn Corporation

Lohn Corporation

17.        Nonconstant Dividends    Lohn Corporation is expected to pay the following dividends over the next four years: $12, $8, $7, and $2.50.   Afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price?

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