Question: The next dividend for ABC Corp. is expected to be $1.36. It will rise to $2.21 the next year and grow at a constant 5.6%

The next dividend for ABC Corp. is expected to be $1.36. It will rise to $2.21 the next year and grow at a constant 5.6% from then on. The required return is 12.1%. What is the current price of the stock?

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