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XYZ paid $3 (Do)per share as dividend in the current year. The dividends will grow...

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Finance

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XYZ paid $3 (Do)per share as dividend in the current year. The dividends will grow at 6%. If the required rate of return on equity is 8.75% then what should be the current price of XYZ stock? The answer should be in the format xxx.yy, For example if the answer is $254.65, and it is not, then type 254.65

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