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The dividend is expected to grow at a constant rate of 3 a

Thomas Brothers is expected to pay a $2.2 per share dividend at the end of the year (that is, D1- $2.2 ). The dividend is expected to grow at a constant rate of 3% a year. The required rate of return on the stock, r is 18%. What is the stock's current value per share? Round your answer to two decimal places.

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Finance Basics: The dividend is expected to grow at a constant rate of 3 a

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