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Thank you!! The Cricket Co. just paid a dividend of $1.70 per share on its stock. The dividends are expected to grow at a constant
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The Cricket Co. just paid a dividend of $1.70 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. Investors require a return of 15 percent on the company's stock. a. What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the stock price be in 3 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What will the stock price be in 20 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. b. Current price Price in 3 years Price in 20 years CStep by Step Solution
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