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Waters Corporation has a stock price of $20 a share. The stock's year-end dividend is expected to be $2 a share (D. = $2.00). The

Waters Corporation has a stock price of $20 a share. The stock's year-end dividend is expected to be $2 a share (D. = $2.00). The stock's required rate of return is 15% and the stock's dividend is expected to grow at a constant rate forever.

What is the expected price of the stock seven years from now?

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