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What is the price of stock today

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Arch Coal is one of the nation's leading coal producers, and is headquartered in St. Louis. Arch Coal's most recently paid a dividend was $1.40 per share (assume it was paid this morning). Arch expects that their dividend will grow by 16% this year, 10% the following year and 8% the year after that. Subsequently, the dividend growth rate will level out at 5%, and is expected to remain at 5% forever thereafter. The required rate of return on this stock is 10.5% per year. What is the price of this stock today?

Reference no: EM132200283

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