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P8-1 Stock Values (LO1] The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.48 per share on its stock. The dividends are expected to grow

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P8-1 Stock Values (LO1] The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.48 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely Required: (a) If investors require a 11 percent return on The Jackson-Timberlake Wardrobe Co. stock, what is the current price? (Click to select) (b)What will the price be in 10 years? (Click to select) v

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