Question: eBook Problem Walk-Through A stock is expected to pay a dividend of $1.00 at the end of the A stock is expected to pay a

eBookProblem Walk-Through

A stock is expected to pay a dividend of $1.00 at the end of the A stock is expected to pay a dividend of $1.00 at the end of the year (i.e., D1 = $1.00), and it should continue to grow at a constant rate of 9% a year. If its required return is 14%, what is the stock's expected price 2 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

year (i.e., D1 = $1.00), and it should continue to grow at a constant rate of 9% a year. If its required return is 14%, what is the stock's expected price 2 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.

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