Question: Problem Check My Work (5 remaining) Click here to read the eBook: Constant Growth Stocks VALUATION OF A CONSTANT GROWTH STOCK A stock is expected

Problem Check My Work (5 remaining) Click here to read the

Problem Check My Work (5 remaining) Click here to read the eBook: Constant Growth Stocks VALUATION OF A CONSTANT GROWTH STOCK A stock is expected to pay a dividend of $0.50 at the end of the year (i.e., D1 = $0.50), and it should continue to grow at a constant rate of 3% a year. If its required return is 13%, what is the stock's expected price 2 years from today? Round your answer to two decimal places. Do not round your intermediate calculations. $

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