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The San Corps. paid an annual dividend of $2.16 per share this year (year 0) and just announced that future dividends will increase by 3

The San Corps. paid an annual dividend of $2.16 per share this year (year 0) and just announced that future dividends will increase by 3 percent annually. Assuming that the market interest rate is 5 percent, calculate the fair price of the stock in year 3. show all work

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