(Answered) Question an investor holds the stock of first national bank

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Question: An investor holds the stock of First National Bank of Imoh and expects to receive a dividend of $12 per share at the end of the year. Stock analysts have recently predicted that the bank's dividends will grow at approximately 3 percent a year indefinitely into the future. If this is true, and if the appropriate risk-adjusted cost of capital (discount rate) for the bank is 15 percent, what should be the current price per share of Imoh's stock?

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