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27. A stock just paid an annual dividend of $2. The dividends are expected to grow at 20%per year over each of the next three
27. A stock just paid an annual dividend of $2. The dividends are expected to grow at 20%per year over each of the next three years and 5% per year thereafter. What is the value ofthe stock if the required rate of return is 12%? A) $34.29 B) $58.74 C) $43.80 D) $39.84 E) $36.49
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