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6. Problem 9.11 (Valuation of a Constant Growth Stock) A stock is expected to pay...

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6. Problem 9.11 (Valuation of a Constant Growth Stock) A stock is expected to pay a dividend of 50.75 at the end of the year (i.e., D1=50.75 ), and it should continue to grow at a constant rate of 9% a year. If its required return is 14%. what is the stock's expected price 2 years from today? Do not found intermediate cakculations. Round your answer to the nearest cent

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