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What is the estimated current price of a share of ABC Company stock based on the Dividend Discount Model? The annual required rate of return

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What is the estimated current price of a share of ABC Company stock based on the Dividend Discount Model? The annual required rate of return is 13.4%. ABC just paid their annual dividend of $7.85 a share and the expected growth rate of the dividend is 5% per year. Answer to the nearest penny. Answer: Check

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