he current stock pric

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter15: Dividend Policy
Section: Chapter Questions
Problem 5P
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Company Y does not plow back any earnings and is expected to produce a level dividend stream of $5.9 a share. If the current stock price is $40.9, what is the market capitalization rate? (Enter your answer as a percent rounded to 2 decimal place.)

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