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Maynard Steel plans to pay a dividend of $3 this year

Finance

Maynard Steel plans to pay a dividend of $3 this year. The company has an expected growth rate of 4% per year and an equity cost of capital of 10%. Assuming Maynard’s dividend payout rate and expected growth rate remains constant, and Maynard does not issue or repurchase shares, estimate Maynard’s share price.

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