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ONANA Corporation is expected to pay a dividend of $5.80 per share one year from...
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ONANA Corporation is expected to pay a dividend of $5.80 per share one year from today and $6.00 per share two years from now. The stock currently trades at $58.59, and you expect its price to be $61 in two years. ONANA’s equity cost of capital is 12%. If you purchase the stock today and plan to sell it after one year, what price do you expect ONANA’s stock to sell for at that time? The answer is closest to:
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