A stock is expected to pay a dividend of 3 at the end of, Financial Management

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A stock is expected to pay a dividend of 3 at the end of

A stock is expected to pay a dividend of $3 at the end of one year. After that dividends are expected to grow at the rate of 2% per year forever. The required return on the stock is 15%. What's the price of the stock according to the dividend discount model?

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Financial Management: A stock is expected to pay a dividend of 3 at the end of

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