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3. (2 points) Cardinals Inc. recently. announced that it will pay annual dividends at the end of the next two years of $2.40 and $2.70

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3. (2 points) Cardinals Inc. recently. announced that it will pay annual dividends at the end of the next two years of $2.40 and $2.70 per share, respectively. Then, in Year 5 it plans to pay a final dividend of $23.50 a share before closing its doors permanently. At a required return of 13.5 percent, what should this stock sell for today

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