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. Stock Values The RLX Co . just paid a dividend of $ 3 . 2 0 per share on its stock. The dividends are

. Stock ValuesThe RLX Co. just paid a dividend of $3.20 per share on its stock. The
dividends are expected to grow at a constant rate of 4 percent per year indefinitely. If
investors require a return of 10.5 percent on the companys stock, what is the current
price? What will the price be in three years? In 15 years?

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