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12. The preferred stock of ACE pays a constant $2.00 per share dividend. The common stock of ACME just paid a $2.00 dividend per share,

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12. The preferred stock of ACE pays a constant $2.00 per share dividend. The common stock of ACME just paid a $2.00 dividend per share, but its dividend is expcted to grow at 3 percent per year forever. ABLE common stock also just paid a dividend of $2.00 per share, but its dividend is expected to grow at 20 percent over the next year and then grow at 3 percent per year forever All three stocks have a 10 percent required return. How much should you be willing to pay for a share of each stock? sldenso

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