The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.45 per share on its stock. The dividends
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The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.45 per share on its stock. The dividends are expected to grow at a constant rate of 6 percent per year indefinitely. If investors require a return of 11 percent on The Jackson-Timberlake Wardrobe Co. stock,what is the current price? What will the price be in three years? In 15 years?
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