Phillips Co

question 59

Multiple Choice

Phillips Co.currently pays no dividend.The company is anticipating dividends of $.02,$.05,$.10,$.20,and $.30 over the next 5 years,respectively.After that,the company anticipates increasing the dividend by 3.5 percent annually.One common step in computing the value of this stock today is to compute the value of:

• A)P₁.
• B)P₃.
• C)P₄.
• D)P₅.
• E)P₆.

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