What is current fair price

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A stock is expected to pay a dividend of $2 at the end of this year. Dividends are not expected to grow after that (constant dividend case). If the expected return on the stock is 17%, what is its current fair price? Round your answer to the nearest cent; do not include the $ sign (i.e., if the answer is $20.4567, enter it as 20.46).

Reference no: EM132523525

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