What is best estimate of the current stock price

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The Ramirez Company's last dividend was $1.75. Its dividend growth rate is expected to be 25% for 1 year, after which dividends are expected to grow at a rate of 6% forever. Its required return is 12%. What is the best estimate of the current stock price?

$31.58

$32.64

$33.71

$34.61

$36.46

Reference no: EM131520646

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