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The Tapley Tank Company just paid a dividend of $2 per share. The dividend growth rate is expected to be constant at 25% for the
The Tapley Tank Company just paid a dividend of $2 per share. The dividend growth rate is expected to be constant at 25% for the next 3 years, after which the dividends are assumed to grow at a rate of 7% forever. Tapley's required return on stock is currently 11%. Which of the following is closest to its current stock price? $80.64 $82.45 $84.05 $86.16 $88.45
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