CJ Industries will pay a regular dividend of ($3.50) per share for each of the next three

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CJ Industries will pay a regular dividend of \($3.50\) per share for each of the next three years. At the end of the three years, the company will also pay out a \($40\) per share liquidating dividend, and the company will cease operations. If the discount rate is 9 percent, what is the current value of the company's stock?

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