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ABC. Inc is expected to pay a dividend of $23.03 per share. The dividends are expected to increase by 1% each year. The required rate

ABC. Inc is expected to pay a dividend of $23.03 per share. The dividends are expected to increase by 1% each year. The required rate of return on the stock is 16%. What is the stock's expected price 18 years from today (i.e., what is P₁₈)?

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