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IceThin Inc. currently pays a annual cash dividend of $ 2 . 3 per share. It is estimated that the company's dividend will grow at

IceThin Inc. currently pays a annual cash dividend of $2.3 per share. It is estimated that the company's dividend will grow at a rate of 25% per year for the next 3 years and then at a constant annual rate of 6% thereafter. The company's stock has a beta of 1.7, the risk-free rate is 6% and the market risk premium is 9%. What is the estimated price of the company's stock at the end of year 5?
Show your answer to the nearest 2 decimals. Do not use the $ sign in your answer. For example, if the answer is $3.237 enter your answer as 3.24 Do not enter it as $3.237, $3.2,3.2, or 3.237

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