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5. Megabit Dance is a fast growing company. It won't pay any dividends for quite a few years. The first dividend of $3.77 is expected
5. Megabit Dance is a fast growing company. It won't pay any dividends for quite a few years. The first dividend of $3.77 is expected to be paid 10 years from now. After that the dividend is expected to grow at 4.4% forever. If the required rate of return is 12.1%, what is the current stock price? Do not include the $ sign and and round your answer to 2 decimal places, e.g., 32.16).
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