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Pepper is a young start-up company. It pays constant dividend of $0.5 per share in the next 5 years. The company will pay a $1.25 per share dividend at the end of the 6th year and will increase the dividend by 8% per year for 3 years, with the growth rate falling of to a constant 4% thereafter (from year 9 to 10 for the first time). If the required return is 10%. (Please retain at least 4 decimal places in your calculations and at least 2 decimal places in the final answer) The current stock price is $