What is expected price of stock three years from now

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The required rate of return is 21.90 percent. Ninex Corp. has just paid a dividend of $3.12 and is expected to increase its dividend at a constant rate of 8.75 percent. What is the expected price of the stock three years from now? (Round answer to 2 decimal places, e.g. 15.20.)

Expected price $

Reference no: EM131360777

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