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QUESTION
A company's dividend grows at a constant rate of 3 percent p. Last week it paid a dividend of $2. If the required rate of return is 13 percent p.
A company's dividend grows at a constant rate of 3 percent p.a.. Last week it paid a dividend of $2.40. If the required rate of return is 13 percent p.a., what is the price of the share 5 years from now? (round to nearest cent)
