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A STOCK IS EXPECTED TO PAY A DIVIDEND OF $2.25 AT THE END OF THE YEAR (D1= $2.25). THE DIVIDENDS IS EXPECTED TO GROW AT
A STOCK IS EXPECTED TO PAY A DIVIDEND OF $2.25 AT THE END OF THE YEAR (D1= $2.25). THE DIVIDENDS IS EXPECTED TO GROW AT A CONSTANT RATE OF 4% A YEAR. THE STOCK HAS A REQUIRED RETURN OF 11%. WHAT IS THE EXPECTED PRICE OF THE STOCK FIVE YEARS FROM TODAY?
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