Constant growth valuationwoidtke manufacturings stock, Ask an Expert

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Constant Growth Valuation

Woidtke Manufacturing's stock currently sells for $24 a share. The stock just paid a dividend of $3.50 a share (i.e., D0 = $3.50), and the dividend is expected to grow forever at a constant rate of 10% a year. What stock price is expected 1 year from now? Round your answer to the nearest cent.

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