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Laser Optics will pay a common stock dividend of $7.20 at the end of the year (D1). The required rate of return on common stock

Laser Optics will pay a common stock dividend of $7.20 at the end of the year (D1). The required rate of return on common stock (Ke) is 20%. The firm has a constant growth rate (g) of 8%.

What is the current price of the stock (Po) ?

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