Question: Use the Constant Dividend Growth Model to compute the expected price of a stock in 3 years. Each share is expected to pay a dividend

Use the Constant Dividend Growth Model to compute the expected price of a stock in 3 years. Each share is expected to pay a dividend of $7.46 in one year. Investors' annual required rate of return is 16.3%, and the expected growth rate of the dividend is 4.8% per annum. Answer to the nearest penny.

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