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2 ) Suppose you are analyzing the stocks of a company. Analysts expect the company to pay dividends of $ 1 0 per share at

2) Suppose you are analyzing the stocks of a company. Analysts expect the company to pay dividends of $10 per share at the end of the first year, $12 per share at the end of the second year, and $15 per share at the end of the third year. Afterwards, the dividend will decrease at a regular rate of 3%. If the required rate of return is 12%, what is the stock's value today? Justify your response.

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