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3) Suppose that the expected dividends for the next four years are given as follow: After that, dividends are expected to grow 8% a year

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3) Suppose that the expected dividends for the next four years are given as follow: After that, dividends are expected to grow 8% a year forever. a. What is the intrinsic value if the appropriate rate of return is 12%. b. What is the expected sale price at t=3, right after the third year dividend payment c. What is the expected sale price at t=3, right before the third year dividend payment

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