Question: eBook Problem Walk-Through A stock is expected to pay a dividend of $2.25 at the end of the year (i.e., D1 = $2.25), and it

eBook Problem Walk-Through A stock is expected to pay a dividend

eBook Problem Walk-Through A stock is expected to pay a dividend of $2.25 at the end of the year (i.e., D1 = $2.25), and it should continue to grow at a constant rate of 10% a year. If its required return is 13%, what is the stock's expected price 1 year from today? Do not round intermediate calculations. Round your answer to the nearest cent

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