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Mack Industries just paid a dividend of $4 per share ( D0=$4 ). Analysts expect the company's dividend to grow 6 percent this year (D1

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Mack Industries just paid a dividend of $4 per share ( D0=$4 ). Analysts expect the company's dividend to grow 6 percent this year (D1 =$4.24 ) and 6 percent next year. After two years the dividend is expected to grow at a constant rate of 3 percent. The required rate of return on the company's stock is 11 percent. What should be the company's current stock price? \begin{tabular}{|} $54.43 \\ $56.43 \\ $58.43 \\ $60.43 \\ $62.43 \\ \hline \end{tabular}

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