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Johnson & Johnson (JNJ) Dividend GrowthJNJ’s dividends have grown an average of 7.365% over the past 11years. The rate of dividend growth is likely to slow over time,especially if another recession occurs. The last dividend paid was$3.54. Assume dividends will grow 7.0% in year 1 (now to December2019), 6.5% in year 2, 6.0% in year 3, and 4.5% thereafter.Require Rate of Return is 7.08%Using the required rate of return that you calculated and theassumptions above, what is the expected price of Johnson &Johnson stock today?Please show me how to do it step by stepThank you
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