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TMZ will pay a dividend next year of $2.84 per share on its stock. The dividends are expected to grow at a constant rate of

TMZ will pay a dividend next year of $2.84 per share on its stock. The dividends are expected to grow at a constant rate of 1.85 percent per year. If investors require a rate of return of 10.4 percent, what will be the stock price in Year 12?

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