The stocks required return

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A stock is currently priced at $31.9. Its dividend is expected to grow at a rate of 5.6% per year indefinitely. The stock's required return is 7.4%. The stock's predicted price 7 years from now, P7, should be $________. Do not round any intermediate work, but round your final answer to 2 decimal places (ex: 12.34567 should be entered as 12.35).

Reference no: EM131517070

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