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What is the price of the stock today

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You are going to purchase 1 share of ABC common stock. ABC just paid a dividend of $3.80 per share. Dividends are paid annually. You expect the dividend to increase by 51% per year for the next 2 years. Thereafter dividends will grow by 3.2% per year. The stock has a required rate of return of 14.0% compounded annually. What is the price of the stock today? Your answer should be accurate to two decimal places.

Reference no: EM132679066

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