Question: Please no excel and please explain what formulas where used at each step! thank you in advance! Q3.(6 Points) The Bunch Company is expected to

Please no excel and please explain what formulas where used at each step! thank you in advance!

Q3.(6 Points) The Bunch Company is expected to pay a dividend of D1 = $2.85 per share at the end of the year, and that dividend is expected to grow at a constant rate of 5.00% per year in the future. The company's beta is 1.20, the required return on the market is 12.50%, and the risk-free rate is 2.50%. What is the company's stock price? %3D

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