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30. A firm recently paid a $5.70 annual dividend. The dividend is expected to increase by $ 0.30 in each of the next three years.

30. A firm recently paid a $5.70 annual dividend. The dividend is expected to increase by $ 0.30 in each of the next three years. In the third year, the stock price is expected to be $50. If the required rate for this stock is 10.00 percent, what is its price?

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