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Hubbard Industries just paid a common dividend, D0, of $1.80. It expects to grow at a...

Hubbard Industries just paid a common dividend, D0, of $1.80. It expects to grow at a constant rate of 3% per year. If investors require a 11% return on equity, what is the current price of Hubbard's common stock? Do not round intermediate calculations. Round your answer to the nearest cent

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Do = 1.80 ke = 11l. g= 30%. Current Price = - Re-g Do(1+0) Re-g 1080 (1+0) 11 .03 $ 23. 18 Ans 1;

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