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2. Suppose that Merck & Co Inc required rate of return on equity is 12%, the expected growth rate in dividends is 11.25%, and the

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2. Suppose that Merck \& Co Inc required rate of return on equity is 12%, the expected growth rate in dividends is 11.25%, and the current dividend is $0.72. How much would the investors be willing to pay for this share of stock? Show formulas, do the math step by step until the final result, and indicate the unit of measurement

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