What is the current share price

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Question - Minerals Ltd. is a young start-up company. No dividends will be paid on the stock over the next 9 years because the firm needs to plow back (reinvest) its earnings to fuel growth. The company will pay a dividend of $37 per share 10 years from today and will increase the dividend by 6 per cent per year thereafter. If the required return on this stock is 14 per cent, what is the current share price?

Reference no: EM133172745

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