What is the current stock price

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Question - "ABC" Company is thinking to pay a dividend of $2.25 per share at the end of the year (This year). The company is projecting to pay the same dividend each of the following 2 years and will then increase the dividend to $3.00 for the subsequent 2 years. After that time the dividends will grow at a steady rate of 5% per year. If the required return on the company's common stock is 11% per year, what is the current stock price?

Reference no: EM132791571

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