Chuck has just added AXE stock to his portfolio. The stock is expected to pay its first dividend of $2.26 two years from now. The dividend at t=3 will be $3.13 and then at the end of the 4^th year, the dividend will be $4.05. After the fourth year, future dividends are expected to increase by 4% per year, until the end of time. If the stock's required rate of return is 12%, what should the stock price be today?

Answer rating: 100% (QA)

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