Question: Check My Work Problem Walk-Through A stock is expected to pay a dividend of $2.00 at the end of the year (i.e., D1=$2.00), and it

Check My Work Problem Walk-Through A stock is expected to pay a dividend of $2.00 at the end of the year (i.e., D1=$2.00), and it should continue to grow at a constant rate of 4% a year. If its required return is 13%, what is the stock's expected price 5 years from today? Do not round intermed ate calculations. Round your answer to the nearest cent. 5

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