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A firm's stock is expected to pay a dividend of $2.00 next year. If the firm is growing at 3% per year and you require

A firm's stock is expected to pay a dividend of $2.00 next year. If the firm is growing at 3% per year and you require a 15% return on your investment what price would you be willing to pay for that firm's stock. (hint: Dividend discount model) (25 pts)

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