单选题 A company has just paid an ordinary share dividend of 32·0 cents and is expected to pay a dividend of 33·6 cents in one year’s time. The company has a cost of equity of 13%. What is the market price of the company’s shares to the nearest cent on an ex dividend basis?
【正确答案】 D
【答案解析】Dividend growth rate = 100 x ((33·6/32) – 1) = 5% MV = 33·6/(0·13 – 0·05) = $4·20