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ABC. Inc just paid a dividend of $2.47 per share. The dividends are expected to increase by 9% each year. The required rate of return

ABC. Inc just paid a dividend of $2.47 per share. The dividends are expected to increase by 9% each year. The required rate of return on the stock is 11%. What is the stock's expected price 16 years from today (i.e., what is P₁₆)?

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