What is the stock expected price five years from today

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Reference no: EM132010329

VALUATION OF A CONSTANT GROWTH STOCK

A stock is expected to pay a dividend of $2.25 at the end of the year (i.e., D1 = $2.25), and it should continue to grow at a constant rate of 3% a year. If its required return is 13%, what is the stock's expected price 5 years from today? Round your answer to two decimal places. Do not round your intermediate calculations.

$_____

Reference no: EM132010329

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