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    Goode's Last Dividend

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    Goode Inc.'s stock has a required rate of return of 11.50%, and it sells for $25.00 per share. Goode's dividend is expected to grow at a constant rate of 7.00% per year. What was Goode's last dividend, D0?

    a. $0.95
    b. $1.05
    c. $1.16
    d. $1.27
    e. $1.40

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    Solution Summary

    The solution explains how to calculate the amount of last dividend D0.