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An investor is going to buy stock, collect dividend payments for 6 years, then sell the stock. The investor wants to earn 1 3 %

An investor is going to buy stock, collect dividend payments for 6 years, then sell the stock. The investor wants to earn 13% return on investment. Based on the following details, what is the maximum price the investor should be willing to pay for this stock? Most recent historical dividend (at "year 0")= $6.00 Expected growth rate of dividends =10.00% Selling price at end of year 6= $20.22

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