Question: Use the Constant Dividend Growth Model to compute the expected price of a stock in 2 years. Each share is expected to pay a dividend

Use the Constant Dividend Growth Model to compute the expected price of a stock in 2 years. Each share is expected to pay a dividend of $1.91 in one year. Investors' annual required rate of return is 16.2%, and the expected growth rate of the dividend is 5% per annum. Answer to the nearest penny.

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