Find out the current price of the stock, Accounting Basics

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Find out the current price of the stock

Problem:

A stock is expected to pay a dividend of $5 in three years and dividends are expected to grow at 3% per year after that. The required return is 15%.

Required:

Question: What is the current price of the stock?

Note: Explain all calculation and formulas.

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Accounting Basics: Find out the current price of the stock

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Accounting Basics: Find out the current price of the stock

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