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11. Disney has distributed dividends of $1 this year. Dividends will grow at 10% growth rate for two years, and then the growth rate of

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11. Disney has distributed dividends of $1 this year. Dividends will grow at 10% growth rate for two years, and then the growth rate of the dividends will be 5% forever. The market capitalization rate is 8%. Calculate the intrinsic value of Disney's stock

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