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A stock is expected to pay a dividend of $1.25 at the end of the...

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Finance

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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 required return is 15%, what is the stock's expected price 2 years from today? Round your answer to two decimal places. Do not round your intermediate calculations

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