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The current spot price of a stock is $30 and the risk-free rate for all maturities (with continuous compounding) is 10%. It is known that

The current spot price of a stock is $30 and the risk-free rate for all maturities (with continuous compounding) is 10%. It is known that the stock will pay a cash dividend of $2 at the end of the first year and a cash dividend of $3 at the end of the second year. What is the three-year forward price of the asset?

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