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Maxwell communications paid a dividend of $1.20 last year. Over the next 12 months, the...

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Finance

Maxwell communications paid a dividend of $1.20 last year. Over the next 12 months, the dividend is expected to grow at 13% which is the constant growth rate for the firm (g). The new dividend after 12 months will represent D1. the required rate of return (Ke) is 17 %. Compute the price of the stock (P0). (round answer to 2 decimal places, do not round intermediate calculations)

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