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?

Corporate Fin Focused Approach
5th Edition
ISBN:9781285660516
Author:EHRHARDT
Publisher:EHRHARDT
Chapter9: The Cost Of Capital
Section: Chapter Questions
Problem 5P
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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?

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