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5. Brandy Company reinvests all of its earnings to fund growth, and its stock is expected to pay zero dividends for the next 5 years.

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5. Brandy Company reinvests all of its earnings to fund growth, and its stock is expected to pay zero dividends for the next 5 years. If anticating paying its first-ever dividend of $2.50 in Year 6 , and this dividend will grow at a constant rate of 4.5% per year thereafter. If the required rate of return on Brandy stock is 11%, what is its current stock price

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