Stock is expected to pay the dividends

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A stock is expected to pay the following dividends: $1.15 in 1 year, $1.55 in 2 years, and $1.80 in 3 years, followed by growth in the dividend of 7% per year forever after that point. The stock's required return is 13%. The stock's current price (Price at year 0) should be $____________. Do not round any intermediate work, but round your final answer to 2 decimal places

Reference no: EM131061293

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