Maxwell Communications paid a dividend of $ 3 last year. Over the next 12 months, the dividend i

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Maxwell Communications paid a dividend of \( \$ 3 \) last year. Over the next 12 months, the dividend is expected to grow at \( 8 \% \), which is the constant growth rate for the firm. The required rate of return is \( 14 \% \). Compute the price of the stock.