Nash IncHas an 12% Required Rate of Return

question 90

Multiple Choice

Nash Inc.has an 12% required rate of return.It does not expect to initiate dividends for 15 years,at which time it will pay $3.00 per share in dividends.At that time,Nash expects its dividends to grow at 6% forever.What is an estimate of Nash's price in 15 years (P₁₅) if its dividend at the end of year 15 is $3.00?

• A)$33.33
• B)$55.00
• C)$57.50
• D)$53.00

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