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Johnson Pharmaceuticals issued a dividend of $ 2 . 2 6 today. Dividends have historically grown at a constant rate of 3 . 5 percent

Johnson Pharmaceuticals issued a dividend of $

2.26

today. Dividends have historically grown at a constant rate of

3.5

percent annually. If the stock continues to grow at the same rate, what would be the value of the stock

12

years from now?

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