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A firm announces they will pay a $5 per share dividend next year and the dividends are expected to grow at 3.25% per year, forever.
A firm announces they will pay a $5 per share dividend next year and the dividends are expected to grow at 3.25% per year, forever. If investors require a rate of return of 15.25%, then what is the stock's expected price per share in 10 years? Round to the nearest $0.01.
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