The dividend is expected to increase

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Reference no: EM131606074

A firm recently paid a $0.60 annual dividend. The dividend is expected to increase by 10 percent in each of the next four years. In the fourth year, the stock price is expected to be $28.

If the required return for this stock is 13.5 percent, what is its current value? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM131606074

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