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1. A company just paid a $3.00 dividend per share on a stock. Dividends are expected to grow at 3% per year indefinitely. If you

1. A company just paid a $3.00 dividend per share on a stock. Dividends are expected to grow at 3% per year indefinitely. If you require a 13% return on the stock what price would you pay? What is the expected price in 3 years?

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