What is the expected year-end dividend d_1

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A stock has a required rate of return of 10.25%, and it sells for $85.50 per share. The dividend is expected to grow at a constant rate of 6.00% per year.

What is the expected year-end dividend D_1? Your answer should be between 1.32 and 4.56, rounded to 2 decimal places, with no special characters.

Reference no: EM131996556

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