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Assume D4 ( I.e., the dividend at end of period 4) is expected to be $5 and is to grow at a constant rate of
Assume D4 ( I.e., the dividend at end of period 4) is expected to be $5 and is to grow at a constant rate of 3%. If investors' required return is 6.9%, what is P3 (i.e., expected price at the end of period 3)? Answer to 2 decimal places.
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