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Problem 9-11 Valuation of a constant growth stock A stock is expected to pay a dividend of $1.00 the end of the year (that is,

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Problem 9-11 Valuation of a constant growth stock A stock is expected to pay a dividend of $1.00 the end of the year (that is, D1 = $1.00), and it should continue to grow at a constant rate of 4% a year. If its required return is 1496, what is the stock's expected price 3 years from today? Round your answer to two decimal places

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