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2. Assume ABC Corp. pays the dividend of $5.32 this year. For the next 38 years, the firm's dividend will grow by 6.1%, then it

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2. Assume ABC Corp. pays the dividend of $5.32 this year. For the next 38 years, the firm's dividend will grow by 6.1%, then it will grow by 5.4% each year afterwards. The required rate of return for the firm's industry is 11.5%. What is the present value of the firm's stock under the Dividend Discount Model

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