Business, 29.06.2019 03:10 kaylamorris05

Miltmar corporation will pay a year-end dividend of $5, and dividends thereafter are expected to grow at the constant rate of 6% per year. the risk-free rate is 5%, and the expected return on the market portfolio is 10%. the stock has a beta of 0.76. what is the intrinsic value of the stock? (round your answer to 2 decimal places.)

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