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(TCO D) A stock has just paid a dividend has declared an annual dividend of $15.00 to be paid one year from today. The dividend

(TCO D) A stock has just paid a dividend has declared an annual dividend of $15.00 to be paid one year from today. The dividend is expected to grow at a 7% annual rate. The return on equity for similar stocks is 15%. What is P0? (Show workings)

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