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Three months from today, a stock is expected to pay a quarterly dividend of d 1 = $0.52. Using the dividend discount model, what is

Three months from today, a stock is expected to pay a quarterly dividend of d₁= $0.52. Using the dividend discount model, what is the price of this stock today if investors require a return of 18% APR compounded quarterly, and investors believe the dividend will forever grow at a rate of 9% APR compounded quarterly?

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