Determining the stock expected price, Accounting Basics

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Determining the stock expected price

Problem:

Reddick Enterprises' stock currently sells for $35.50 per share. The dividend is projected to increase at a constant rate of 4.50% per year. The required rate of return on the stock, rs, is 9.00%.

Required:

Question: What is the stock's expected price 3 years from today?

Note: Show all workings.

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Accounting Basics: Determining the stock expected price

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Accounting Basics: Determining the stock expected price

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