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Troy is interested in buying a particular stock whose current dividend per share is $1.50. Troy estimates that the current dividend per share will increase at a rate of 2.55% per year forever.

If Troy's estimates are correct, what is the best estimate of the stock price per share if the required rate of return is 18.00%.

Place your answer in dollars and cents. Do not place a dollar sign or comma in your answer.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92869968

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