Home place hotels inc is entering into a 3-year remodeling, Ask an Expert

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Home Place Hotels, Inc., is entering into a 3-year remodeling and expansion project. The construction will have a limiting effect on earnings during that time, but when it is complete, it should allow the company to enjoy much improved growth in earnings and dividends. Last year, the company paid a dividend of $3.40. It expects 6% growth in the next year and thereafter; growth should be a constant 10% per year. What is the maximum price per share that an investor who requires a return of 12% should pay for Home Place Hotels common stock?

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Financial Management, Finance

Category:- Financial Management
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