Question: Suppose a Central Lane Co. is expected to increase dividends by 10% in one year and 6% in years 2 and after that, dividends will

Suppose a Central Lane Co. is expected to increase dividends by 10% in one year and 6% in years 2 and after that, dividends will increase by 4% forever. If the most recent dividend was $3 and the required return is 12%, what is the price of the stock?

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