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A company currently pays an annual dividend of $4.50 per share. It expects the growth rate of the dividend will be 2.5% (0.025) annually. If

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A company currently pays an annual dividend of $4.50 per share. It expects the growth rate of the dividend will be 2.5% (0.025) annually. If the interest (discount) rate is 5% (0.05) what does the dividend-discount model predict the current price of the stock should be? (Show Work)

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