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  3. a stock is expected to pay a dividend of $0.50 at

A stock is expected to pay a dividend of $0.50 at the end of the...

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Accounting

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A stock is expected to pay a dividend of $0.50 at the end of the year (i.e., D1 = $0.50), and it should continue to grow at a constant rate of 4% a year. If its required return is 15%, what is the stock's expected price 4 years from today? Do not round intermediate calculations. Round your answer to the nearest cent. $

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