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2. (7 points) Sorenson Corp.'s expected year-end dividend is D1=$4.00, its required return is r s =11.00%, and its growth rate is expected to be

2. (7 points) Sorenson Corp.'s expected year-end dividend is D1=$4.00, its required return is r s =11.00%, and its growth rate is expected to be constant at 5% in the future. What is Sorenson's expected stock price in 7 years, i.e., what is P7

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