What is current share price

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Reference no: EM132039470

Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next 11 years because the firm needs to plow back its earnings to fuel growth. The company will pay a $12 per share dividend in 12 years and will increase the dividend by 4 percent per year thereafter. Required: If the required return on this stock is 7 percent, what is the current share price? (Do not round your intermediate calculations.)

Reference no: EM132039470

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