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A firm is currently experiencing troublesome times. The last dividend paid was $4, but this is expected to decline at a rate of 3% per

A firm is currently experiencing troublesome times. The last dividend paid was $4, but this is expected to decline at a rate of 3% per year. If investors require 12%, what will the stock price be in 3 years? Assume that the firm stock beta is 2 the risk-free rate is 7 and the expected market return is 12.


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