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A stock is expected to pay a dividend of 300 at the end of

A stock is expected to pay a dividend of $3.00 at the end of the year (i.e., D1 = $3.00), and it should continue to grow at a constant rate of 10% a year. If its required return is 15%, what is the stock's expected price 1 years from today?

Round your answer to two decimal places. Do not round your intermediate calculations.

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Accounting Basics: A stock is expected to pay a dividend of 300 at the end of

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