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An Italian firm will pay a dividend of EUR 2 0 0 next year. The company has stated that it will maintain a constant growth

An Italian firm will pay a dividend of EUR 200 next year. The company has stated that it will maintain a constant growth rate of 3.50 percent a year forever. Most analysts agree that this is a reasonable growth rate. They want a range of returns from 12 to 15 percent. Estimate the price range that they are willing to pay for the stock!

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