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27 #3 A stock just paid a dividend of $2.96. The dividend is expected to grow at 21.71% for three years and then grow at

27 #3

A stock just paid a dividend of $2.96. The dividend is expected to grow at 21.71% for three years and then grow at 3.12% thereafter. The required return on the stock is 10.58%. What is the value of the stock?

Answer format:Currency: Round to: 2 decimal places.

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