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A firm is expected to pay a dividend of $1.15 next year

/in /by

A firm is expected to pay a dividend of $1.15 next year and $1.30
the following year. Financial analysts believe the stock will be at their price target of $30 in two years.

Compute the value of this stock with a required return of 11.1 percent. (Round your answer to 2 decimal places.)

Value of stock $________

 
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