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Question 1b. The current share price is $48.00, the upcoming dividend is $3.25 per share, the return on equity is 11%, dividends grow at a

Question 1b. The current share price is $48.00, the upcoming dividend is $3.25 per share, the return on equity is 11%, dividends grow at a constant rate. What is the share price at year 2? The solution is:

b. P2 = 52.1459

How do I get this answer? Thanks!

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