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Suppose a stock has a required return of 12 percent. You expect the next two annual dividends are $2.46 and $4.63. The third dividend and
Suppose a stock has a required return of 12 percent. You expect the next two annual dividends are $2.46 and $4.63. The third dividend and beyond will grow at a constant 2 percent forever. What is the current price of the stock? (Do not round any intermediate calculations. Round your final answer to 2 decimal places and enter it in the box below.) 43.54 margin of error +/0.3%
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