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A companys shares are expected to pay a dividend of $4.45 per share in one year. The dividend is expected to grow at a real
A companys shares are expected to pay a dividend of $4.45 per share in one year. The dividend is expected to grow at a real rate of 1% per year indefinitely. The required real rate of return on the companys shares is 6% per year. Calculate the stock price (to the nearest cent).
Your answer should be to the nearest cent and you should not include a dollar sign or commas.
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