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An analyst has been following American Dream stock. He projects the following dividends for the next three years: YEAR 1 2 3 Dividend $1.97 $2.50

An analyst has been following American Dream stock. He projects the following dividends for the next three years: YEAR 1 2 3 Dividend $1.97 $2.50 $3.04 The analyst notes that American Dream stock has a required return of 10.40%. The analyst projects that dividends will grow at a constant rate of 2.00% per year after year 3. What is the projected selling price for the stock at the end of year 3

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