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The spot price of stock is $25. The dividends of $0.5 per share are expected after 3 months, 6 months, and 9 months. Assuming that

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The spot price of stock is $25. The dividends of $0.5 per share are expected after 3 months, 6 months, and 9 months. Assuming that interest rates are 8% per annum for all maturities, calculate the forward price of stock for delivery in 11 months

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