The required return for this stock

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A firm recently paid a $0.75 annual dividend. The dividend is expected to increase by 14 percent in each of the next four years. In the fourth year, the stock price is expected to be $58. If the required return for this stock is 16.50 percent, what is its current value? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM131575456

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