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The Jackson-Timberlake Wardrobe Company just paid a dividend of $1.58 per share on its stock. The dividends are expected to grow at a constant rate

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The Jackson-Timberlake Wardrobe Company just paid a dividend of $1.58 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. a. If investors require a return of 12 percent on the company's stock, what is the current price? b. What will the price be in 7 years

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