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John is evaluating a stock that he believes will pay a dividend equal to $1.25 in exactly one year from today.

Further, John expects that in addition to the dividend he will be able to sell the stock for the amount $48 per share also one year from today.

Using this information, what is the stock's price today if the required rate of return on the stock is 12.00%?

Place your answer in dollars and cents without a dollar sign.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92798918

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