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Link, Inc., just paid a dividend of $3.50 on its common stock. Dividends are expected to grow at a constant rate of 6 percent for
Link, Inc., just paid a dividend of $3.50 on its common stock. Dividends are expected to grow at a constant rate of 6 percent for the next three years, at which point the stock is expected to sell for $45.00. If investors require a rate of return on Link's common stock of 15 percent, what should the stock sell for today?
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