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Reliable Motors shares are expected to pay dividends of $1.30, $1.25, and $1.60 at the...

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Accounting

Reliable Motors shares are expected to pay dividends of $1.30, $1.25, and $1.60 at the end of each of the next three years, respectively. The investor expects the price of the shares at the end of this 3-year holding period to be $56.00. The investor's required rate of return is 12.5%. Calculate the current value of Reliables shares.

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