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5. The value of a stock that is expected to pay a constant dividend of $5.1 per year if the required return is 15% should

5. The value of a stock that is expected to pay a constant dividend of $5.1 per year if the required return is 15% should be $____(12)____? What if the company starts increasing dividends by 3% per year, beginning with the next dividend? Assume that the required return stays at 15%, the value of the stock should be $____(13)____.

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