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Intro Southern Power just paid an annual dividend of $7.1 per share. Because of increasing competition from home solar installations, the dividend is expected to

Intro

Southern Power just paid an annual dividend of $7.1 per share. Because of increasing competition from home solar installations, the dividend is expected to shrink by 2% per year. The required rate of return is 8%.

Attempt 1/3 for 10 pts.

Part 1

What should be the current stock price?

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