Dividend is expected to grow at a constant rate

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Harrison Clothiers' stock currently sells for $38 a share. It just paid a dividend of $3.75 a share (that is, D0 = 3.75). The dividend is expected to grow at a constant rate of 7% a year.

What stock price is expected 1 year from now? Round your answer to two decimal places.

Reference no: EM13923792

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