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The JacksonTimberlake Wardrobe Co. just paid a dividend of $2.00 per share on its stock. The dividends are expected to grow at a constant rate

The JacksonTimberlake Wardrobe Co. just paid a dividend of $2.00 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. Investors require a return of 12 percent on the company's stock.
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Problem 8-1 Stock Values [L01] The Jackson-Timberlake Wardrobe Co. just paid a dividend of $2.00 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year indefinitely. Investors require a return of 12 percent on the company's stock. What is the current stock price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16) Current price 26 What will the stock price be in three years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.9, 32.16.) Stock price What will the stock price be in 12 years? (Do not round intermediate calculations and round your answer to2 decimal places, e.g., 32.16.) Stock price

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