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QUESTION
The last dividend paid by Klein Company was $1.
5. The last dividend paid by Klein Company was $1.00. Klein"s growth rate is expected to be a constant 5 percent for 2 years, after which dividends are expected to grow at a rate of 10 percent forever. Klein"s required rate of return on equity (ks) is 12 percent. What is the current price of Klein"s common stock?
