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The Island Tourist Company, Inc. just paid a dividend of $3.00 per share, and that dividend is expected to grow at a constant rate of 3.00% per year in the future. The company's required rate of return on the stock is 12.00%. At what price should the company's stock sell? Explain comprehensively and also show all workings.

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Category:- Basic Finance
Reference No.:- M91146927

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