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Fowler, Inc., Just pald a dividend of $3.20 per share on Its stock. The dividends are expected to grow at a constant rate of 6.25

Fowler, Inc., Just pald a dividend of $3.20 per share on Its stock. The dividends are expected to grow at a constant rate of 6.25 percent per year, Indefinitely. Assume Investors require a return of 12 percent on this stock. a. What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16.) b. What will the price be in four years and in sixteen years? (Do not round Intermediate calculations and round your answers to 2 decimal places, e.g. 3216.) a. Current price b. Price in four years Price in sixteen years

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