Steady As She Goes Inc. will pay a year-end dividend of $3 per share. Investors expect the dividend to grow at a rate of 4% indefinitely. a. If the stock currently sells for $30 per share, what is the expected rate of return on the stock? (Do not round intermediate calculations. Enter your answer as a whole percent.) Expected rate of return % b. If the expected rate of return on the stock is 16.5%, what is the stock price? (Do not round intermediate calculations.)
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