What would be the approximate expected price of a stock when dividends are expected to grow at
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Question:
What would be the approximate expected price of a stock when dividends are expected to grow at a 26% rate in each of years 2 and 3, and then grow at a constant rate of 4% if the stock's required return is 15% and next year's dividend will be $2.80?
Multiple Choice
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$68.64
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$30.13
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$35.66
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$41.19
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