Dividends on CCN corporation are expected to grow at a 9% per year.

Dividends on CCN corporation are expected to grow at a 9% per year. Assume that the discount rate on CCN is 12% and that the expected dividend per share in one year is $0.50.

CCN has just paid a dividend, so the next dividend is the $0.50 to be paid one year from now.

Calculate today’s price per share fo CCN.

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