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Ronald Regan is expected to pay an end-of-year dividend of $2.50 per share, and it is expected to grow at a constant rate over time.

Ronald Regan is expected to pay an end-of-year dividend of $2.50 per share, and it is expected to grow at a constant rate over time. The stock has a required rate of return of 11 percent and a dividend yield of 5 percent. What is the expected price of the stock five years from today?

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