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ABC Inc. paid its quarterly two months ago.It is expected to pay a $0.90 dividend in one month, and following quarterlydividends are expected to grow

ABC Inc. paid its quarterly two months ago.It is expected to pay a $0.90 dividend in one month, and following quarterlydividends are expected to grow at a rate of 1% per quarter into the foreseeablefuture. The effective annual required rate of return on ABC stock is16%. What is the price of a share of ABC stock now?

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