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The Nearside Co. just paid a dividend of $1.40 per share on its stock. The dividends are expected to grow at a constant rate of

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The Nearside Co. just paid a dividend of $1.40 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year, indefinitely. Investors require a return of 12 percent on the stock. a. What is the current price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What will the price be in three years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What will the price be in 9 years? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current price Stock price C. Stock price a. b

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