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How is this problem worked? The common stock of ACME just paid a $1.00 dividend per share, but its dividend is expected to grow at

How is this problem worked?

The common stock of ACME just paid a $1.00 dividend per share, but its dividend is expected to grow at 4% per year forever. It has a 12% required return. How much should you be willing to pay for a share of the stock

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