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5. stock is expected to have net income of $2 per share by the end of the coming year. Dividends are expected to grow at

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5. stock is expected to have net income of $2 per share by the end of the coming year. Dividends are expected to grow at a constant rate g per year forever. You know that the company pays out 80% of its earning as didvidend and has a constant return on equity of 30%. The stock's required return is 12%. What is the fair price for this stock today? What is the present value of growth opportinities? Use 3 decimal points in your calculations

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