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Item 5
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The RLX Company just paid a dividend of $3.20 per share on its stock. The dividends are expected to grow at a constant rate of 4 percent per year, indefinitely. If investors require a return of 10.5 percent on this stock, what is the current price? What will the price be in three years? In 15 years?
Note: Do not round intermediate calculations and round your answers to 2 decimal places, e.g.,32.16.

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