Wmba 6060 – Pharsalus Inc. Just Paid A Dividend Of $ 2.99 Per Share.

Pharsalus Inc. just paid a dividend of $ 2. 99 per share. This dividend is expected to grow at a rate of 3. 6 percent per year forever. The appropriate discount rate for Pharsalus’s stock is 14. 2 percent. What is the price of the stock? Enter your answer to the nearest penny. Do not use the $ sign in your answer

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