A company just paid a dividend of $1.50 and expects the dividend will grow 7% per year indefinitely into the future. If the required rate of return on equity is 13%, what would be a fair price for this stock today?

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The Answer of A company just paid a dividend of $1.50 and expects the dividend will grow 7% per year indefinitely into the future. If the required rate of return on equity is 13%, what would be a fair price for this stock today?

A Company Just Paid a Dividend of $1