(Answered) Question - keeping pace enterprises makers of track and

Accounting

Question - Keeping Pace Enterprises, makers of track and field equipment, has common stock that sells for $29, and Keeping Pace Enterprises, makers of track and field equipment, has common stock that sells for $29, and its dividends are expected to grow at a rate of 9 percent annually. If investors in Pace require a return of 14%, what is the expected dividend next year?

$1.33

$2.40

$1.45

$1.60

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