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14.A firm will not pay dividends until four years from now. Starting in year four dividends will be $2.20 per share, the retention ratio will

14.A firm will not pay dividends until four years from now. Starting in year four dividends will be $2.20 per share, the retention ratio will be 40%, and ROE will be 15%. If k = 10%, what should be the value of the stock?

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