【每日一练】ACCA F9（ Dec 2014）

Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question.
Each question is worth 2 marks

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?
A $3·20
B $4·41
C $2·59
D $4·20

Answer：

 D
Dividend growth rate = 100 x ((33·6/32) – 1) = 5%
MV = 33·6/(0·13 – 0·05) = $4·20

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