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

Use the Dividend Discount Model to compute the expected price of a stock in 2 years. Each share is expected to pay a dividend of $7.45 in one year. Investors' annual required rate of return is 19%, and the expected growth rate of the dividend is 3.9% per annum. Answer to the nearest penny.

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