Goode Inc'S Stock Has a Required Rate of Return of 11

question 56

Multiple Choice

Goode Inc.'s stock has a required rate of return of 11.50%,and it sells for $33.00 per share.Goode's dividend is expected to grow at a constant rate of 7.00%.What was the last dividend,D₀?

• A) $1.64
• B) $1.50
• C) $1.29
• D) $1.39
• E) $1.42