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Use the Dividend Growth Model to compute the expected price of a stock in 4...

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Finance

Use the Dividend Growth Model to compute the expected price of a stock in 4 years. Each
share is expected to pay a dividend of $6.56 in one year. Investors' annual required rate of
return is 10.6%, and the expected growth rate of the dividend is 3.2% per annum. Answer to
the nearest penny.

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