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2. Tiger Industries just paid a dividend of $1.10 per share. The dividends are expected to grow at a 20 percent rate for the next

2. Tiger Industries just paid a dividend of $1.10 per share. The dividends are expected to grow at a 20 percent rate for the next six years and then level off to a 4 percent growth rate indefinitely. If the required return is 12 percent, what is the value of the stock today?

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