Dividend is expected to grow forever at constant rate

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Constant Growth Valuation Woidtke Manufacturing's stock currently sells for $34 a share. The stock just paid a dividend of $3.00 a share (i.e., D0 = $3.00), and the dividend is expected to grow forever at a constant rate of 9% a year. What stock price is expected 1 year from now? Round your answer to the nearest cent.

Reference no: EM131048095

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