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11. Problem 9.11 (Valuation of a Constant Growth Stock) eBook Problem Walk-Through A stock is expected to pay a dividend of $2.25 at the end

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11. Problem 9.11 (Valuation of a Constant Growth Stock) eBook Problem Walk-Through A stock is expected to pay a dividend of $2.25 at the end of the year (1.0, D. - $2.25), and it should continue to grow at a constant rate of 7% a year. If its required return is 15%, what is the stock's expected price 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent

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