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Z Co. just paid a dividend of $1.57 per share on its stock. The dividends are expected to grow at a constant rate of 6.6%
Z Co. just paid a dividend of $1.57 per share on its stock. The dividends are expected to grow at a constant rate of 6.6% per year indefinitely. If investors require a 13.5% return on Z Co. stock, Calculate the price of the stock in year 13. (Do not round intermediate calculations. Round the final answers to 2 decimal places.) Please show your work!
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