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Sheridan Corp. paid a dividend of $2.30 yesterday. The company's dividend is expected to grow at a steady rate of 5 percent for the foreseeable future. If investors in stocks of companies like Sheridan require a rate of return of 15 percent, what should be the market price of Sheridan stock? (Round dividend to 3 decimal places, e. g. 3.756 and round final answer to 2 decimal places, e. g. 15.25.) Market price $
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Sheridan Corp. paid a dividend of $2.30 yesterday. The company's dividend is expected to grow at a s...
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