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The RLX Company just paid a dividend of $ 2 . 6 0 per share on its stock. The dividends are expected to grow at

The RLX Company just paid a dividend of $2.60 per share on its stock. The dividends are expected to grow at a constant rate of 5.75 percent per year, indefinitely. Assume investors require a return of 12 percent on this stock.
a. What is the current price?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.
b. What will the price be in four years and in sixteen years?
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g.,32.16.
a. Current price
$,43.99
b. Price in four years
Price in sixteen years
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