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1)Video Games Inc. began selling games ten years ago.Dividends are currently $1.50 per share, having grown at a 15 percent annual rate over the past

1)Video Games Inc. began selling games ten years ago.Dividends are currently $1.50 per share, having grown at a 15 percent annual rate over the past 5 years.The growth rate is expected to be maintained for the next three years, after which dividends are expected to grow at half that rate for three years.Beyond that time, dividends are expected to grow at 5 percent per year for the foreseeable future.What is the current value of a share of this common stock if your required rate of return is 18 percent?

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