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Expected price of the stock 3 years from now

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Morgan Co.'s stock price is $40 per share, and its expected year-end dividend is $2.40 a share (D1=$2.40). The stock's required return is 10.00%, and the dividend is expected to grow at a constant rate forever. What is the expected price of the stock 3 years from now?

Reference no: EM132459435

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