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#27 4 A stock just paid a dividend of $1.17. The dividend is expected to grow at 25.48% for five years and then grow at

#27 4

A stock just paid a dividend of $1.17. The dividend is expected to grow at 25.48% for five years and then grow at 3.13% thereafter. The required return on the stock is 11.81%. What is the value of the stock?

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

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