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4. A stock is currently priced at $27.8. Its dividend is expected to grow at a rate of 5.0% per year indefinitely. The stock's required

4. A stock is currently priced at $27.8. Its dividend is expected to grow at a rate of 5.0% per year indefinitely. The stock's required return is 8.7%. The stock's predicted price 3 years from now, P3, should be $________.

Can you also explain the exponent part in words please?

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