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3) Gentleman Gym just paid its annual dividend of $3 per share, and it is widely expected that the dividend will increase by 5% per

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3) Gentleman Gym just paid its annual dividend of $3 per share, and it is widely expected that the dividend will increase by 5% per year indefinitely. What price should the stock sell at if the discount rate is 15%? How would your answer change if the discount rate is 12%

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