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A stock is expected to pay a dividend of $3.00 at the end of the year (i.e., D 1 = $3.00), and it should continue
A stock is expected to pay a dividend of $3.00 at the end of the year (i.e., D1 = $3.00), and it should continue to grow at a constant rate of 5% a year. If its required return is 13%, what is the stock's expected price 2 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.
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