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You are considering an investment in KC Corp. stock. The dividend next year (D1) is expected to be $0.50. The dividend is expected to grow

You are considering an investment in KC Corp. stock. The dividend next year (D1) is expected to be $0.50. The dividend is expected to grow at a constant rate of 7% per year. Your required return to invest in this stock is 15%. What is the price you are willing to pay for the stock?

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