Valuation of a constant growth stock

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A stock is expected to pay a dividend of $0.75 the end of the year (that is, D₁ = $0.75), and it should continue to grow at a constant rate of 5% a year. If its required return is 12%, what is the stock's expected price 1 year from today? Round your answer to two decimal places

Reference no: EM13881013

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