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QUESTION
A firm is expected to pay a dividend of $2.55 next year and $2.85 the following year. Financial analysts believe the stock will be at their price...
A firm is expected to pay a dividend of $2.55 next year and $2.85 the following year. Financial analysts believe the stock will be at their price target of $115 in two years.
Compute the value of this stock with a required return of 11.5 percent.
