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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 $1.84 $2.43

An analyst has been following American Dream stock. He projects the following dividends for the next three years:

YEAR 1 2 3
Dividend $1.84 $2.43 $3.03

The analyst notes that American Dream stock has a required return of 10.19%. The analyst projects that dividends will grow at a constant rate of 4.00% per year after year 3.

What is the current price of the stock if his assumptions are correct?

Answer format: Currency: Round to: 2 decimal places.


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