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Question 15 of 20 Problem 9.11 (Valuation of a Constant Growth Stock) Check My Work...

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Question 15 of 20 Problem 9.11 (Valuation of a Constant Growth Stock) Check My Work (3 remaining) eBook Problem Walk-Through A stock is expected to pay a dividend of $2.25 at the end of the year (i.e., D1 $2.25), and it should continue to grow at a constant rate of 8% a year. If its required return is 13%, what is the stock's expected price 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent. $ Check My Work (3 remaining) 0Icon Key

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