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The current dividend (D o ) for Company A is $1.5400 per share. Dividends have been growing at a constant growth rate of 3% per

The current dividend (Do) for Company A is $1.5400 per share. Dividends have been growing at a constant growth rate of 3% per year and that trend is expected to continue. If the required rate of return is 11.5%, then what is the maximum price than an investor should pay for the stock?

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