Fletcher Companys current stock price is $36.00, its last dividend was $2.40, and its required rate of

Question:

Fletcher Company’s current stock price is $36.00, its last dividend was $2.40, and its required rate of return is 12%. If dividends are expected to grow at a constant rate, g, in the future, and if r_s is expected to remain at 12%, what is Fletcher’s expected stock price 5 years from now?

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