Leslie\'s Unique Clothing Stores offers a common stock that pays an annual divid

Question

Leslie's Unique Clothing Stores offers a common stock that pays an annual dividend of $1.70 a share. The company has promised to maintain a constant dividend. How much are you willing to pay for one share of this stock if you want to earn a 11.50 percent return on your equity investments?

Leslie's Unique Clothing Stores offers a common stock that pays an annual dividend of $1.70 a share. The company has promised to maintain a constant dividend. How much are you willing to pay for one share of this stock if you want to earn a 11.50 percent return on your equity investments?

Explanation / Answer

$14.78

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