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32 A company's stock is expected to pay a year-end dividend of D = $3.00. The dividend is expected to decline at a rate of

32 A company's stock is expected to pay a year-end dividend of D = $3.00. The dividend is expected to decline at a rate of 3% a year forever (g = -3%). If the required rate of return is 15%, determine the current price, Po, for this stock using the constant growth model. $25.00 O $16.67. $21.54 1 pts O The constant growth model cannot be used because the growth rate is negative

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