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I am trying to figure out the right number for this if anyone could do it with an explanation. it would help me so much.

image text in transcribed

I am trying to figure out the right number for this if anyone could do it with an explanation. it would help me so much.

image text in transcribed
ABC Co. just paid a dividend of $1.57 per share on its stock. The dividends are expected to grow at a constant rate of 6.6% per year indefinitely. If investors require a 13.5% return on ABC Co. stock, Calculate the price of the stock in year 13. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) In order to grade this problem, you need to upload your handwritten calculations via Blackboard. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIUS Paragraph Open Sans, s... v 10pt A v IX

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