A stock will pay a dividend of $7.07 in one year. If your discount rate...
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A stock will pay a dividend of $7.07 in one year. If your discount rate is 0.11 per year, and the growth rate in dividends is a constant 0.02 per year, what is current stock price? Note: the discount rate and growth rate are in decimals, so 0.20 would be 20%. (Round your answer to the nearest penny)
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