Nonconstant Growth. Planned Obsolescence has a product that will be in vogue for 3 years, at which

Question:

Nonconstant Growth. Planned Obsolescence has a product that will be in vogue for 3 years, at which point the firm will close up shop and liquidate the assets. As a result, forecasted dividends are DIV₁ = $2, DIV₂ = $2.50, and DIV3 = $18. What is the stock price if the discount rate is 12 percent?

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