Question: hi please explain step by step how to solve this thank you Question 16 Assume a company has a current stock price of 80 and

hi please explain step by step how to solve this thank

hi please explain step by step how to solve this thank you

Question 16 Assume a company has a current stock price of 80 and will pay 2.8 as dividend in one year; its equity cost of capital is 14%. What price must you expect the stock to sell for immediately after the firm pays the dividend in one year to justify its current price? (Round your answer to two decimal digits)

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