Question: Consider a stock that is expected to pay a dividend of $1.24 one year from now. The dividend is expected to grow at a constant

Consider a stock that is expected to pay a dividend of $1.24 one year from now. The dividend is expected to grow at a constant rate of 1.5% per year forever. Firms in the same industry provide an expected rate of return of 9.7%. What is the current price of the stock?

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