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17. Madison Corporation will pay a dividend of $1.70 per share at this year's end and a dividend of $2.35 per share at the end

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17. Madison Corporation will pay a dividend of $1.70 per share at this year's end and a dividend of $2.35 per share at the end of next year. It is expected that the price of Madison's stock will be $44 per share after two years. If Madison has an equity cost of capital of 8%, what is the maximum price that an investor would be willing to pay for a share of Madison stock today

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