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Suppose Apple Bee, Inc. just paid a dividend of $ 2 . 0 per share. Sales and profits are expected to grow at a rate

Suppose Apple Bee, Inc. just paid a dividend of $2.0 per share. Sales and profits are expected to grow at a rate of 7% per year. Its dividend is expected to grow at the same rate, indefinitely. If the required return is 12%, what is the current stock price of Apple Bee? What will the stock price be in 6 years?

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