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CX Enterprises has the following expected dividends: $1.11 in one year, $1.22 in two years, and $1.34 in three years. After that, its dividends are
CX Enterprises has the following expected dividends:
$1.11
in one year,
$1.22
in two years, and
$1.34
in three years. After that, its dividends are expected to grow at
4%
per year forever (so that year 4's dividend will be
4%
more than
$1.34
and so on). If CX's equity cost of capital is
12.2%,
what is the current price of its stock?The price of the stock will be
$enter your response here.
(Round to the nearest cent.)
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