What would be the estimated current price of the stock

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Question: Echo Foxtrot's Corp's dividend is currently $2.75 per share. From corporate reports investors estimate that the stock's dividend will grow by a constant rate of 3.5% per year. The required rate of return (i.e., the rate on alternative investments) is 11.0%. What would be the estimated current price of this stock?

Reference no: EM131969462

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