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The Starr Co. just paid a dividend of $1.95 per share on its stock. The dividends are expected to grow at a constant rate of

The Starr Co. just paid a dividend of $1.95 per share on its stock. The dividends are expected to grow at a constant rate of 4.5 percent per year, indefinitely. If investors require a return of 11 percent on the stock, what is the current price? What will the price be in three years? In 15 years?

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