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Mack Industries just paid a dividend of $4 per share (D0=$4). Analysts expect the company's dividend to grow 9 percent this year (D1=$4.36) and 5

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Mack Industries just paid a dividend of $4 per share (D0=$4). Analysts expect the company's dividend to grow 9 percent this year (D1=$4.36) and 5 percent next year. After two years the dividend is expected to grow at a constant rate of 1 percent. The required rate of return on the company's stock is 15 percent. What should be the company's current stock price? $28.23 $29.23 $31.23 $32.23 $30.23

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