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Heard, Inc., just paid a dividend of $8.4 per share on its stock. The dividends are expected to grow at a constant rate of 6

Heard, Inc., just paid a dividend of $8.4 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year, in- definitely. If investors require a 12 percent return on Heard stock, what is the current price? What will the price be in three years? In 15 years?

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