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Shoelace Inc. has the following expected dividends per share: $3.5 in year 1, $3 in year 2, and $0.5 in year 3. In year 3,
Shoelace Inc. has the following expected dividends per share: $3.5 in year 1, $3 in year 2, and $0.5 in year 3. In year 3, its stock will be selling for $17.00 per share. If its equity cost of capital is 6.00%, what is the current stock price of Shoelace Inc.?
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