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A stock is expected to pay a dividend of $1 at the end of the year (D1=1), and it should continue to grow at a

  1. A stock is expected to pay a dividend of $1 at the end of the year (D1=1), and it should continue to grow at a constant rate of 7% a year. If its required return is 11%, what is the stocks expected price 5 years from today? Answer to the nearest dollar amount, and enter without the dollar sign.

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