Next Page Page 25 of 25 Unless otherwise instructed, use two (2) decimal places for both percentages and dollar amounts. This is enforced, like in Connect. If you need to enter units, use % for percentages, $ for dollar amounts, x for times and years for years. Question 25 (4 points) Portman Industries just paid a dividend of $3.40 per share. The dividend is expected to grow by 30 percent over the next year. After that, though, Portman's dividend is expected to grow at a constant rate of 3 percent per year indefinitely. The required rate of return for Portman's stock is 11 percent. How much is the stock worth? Your Answer: Answer units

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