Business, 25.03.2021 04:10 reeseebaby89

JCPenney Company is expected to pay a dividend in year 1 of $1.65, a dividend in year 2 of $1.97, and a dividend in year 3 of $2.54. After year 3, dividends are expected to grow at the rate of 8% per year. An appropriate required return for the stock is 11%. The stock should be worth today. a. $33.00.
b. $40.67.
c. $71.80.
d. $60.00.
e. none of these is correct.

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JCPenney Company is expected to pay a dividend in year 1 of $1.65, a dividend in year 2 of $1.97, an...