15. A stock is expected to pay a dividend of $1.25...
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Finance
15.
A stock is expected to pay a dividend of $1.25 at the end of the year (i.e, D1=$1.25), and it should continue to grow at a constant rate of 3% a year. If its requlred return is 15%, what is the stock's expected price 2 years from today? Do not round intermediate caiculations. Round your answer to the nearest cent. 3
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