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Goode's Last Dividend

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Goode Inc.'s stock has a required rate of return of 11.50%, and it sells for $25.00 per share. Goode's dividend is expected to grow at a constant rate of 7.00% per year. What was Goode's last dividend, D0?

a. $0.95
b. $1.05
c. $1.16
d. $1.27
e. $1.40

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Solution Summary

The solution explains how to calculate the amount of last dividend D0.

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