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7) Gilmore, Inc., just paid a dividend of $3.15 per share on its stock. The dividends are expected to grow at a constant rate of

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7) Gilmore, Inc., just paid a dividend of $3.15 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year, indefinitely. Assume investors require a return of 11 percent on this stock. a) What is the current price? (5 pts) 3.15 = 28.64 8.11 b) What will the price be in three years? (5 pts) (2.15 - 83:42 n

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