82. An analyst gathers the following data to determine the attractiveness of the
company’s common stock:
Dividends per share in 2002 $2
Dividends per share in 2008 $3
Expected return on the market 17%
Expected nominal risk-free return 9%
Stock’s beta 1.8
Stock’s market price as of 1 January 2009 $19
Using the constant growth dividend discount model, the stock’s intrinsic value is
closest to:
A. $12.82.
B. $18.29.
C. $19.57.
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