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6. A company is currently experiencing a very successful period and will pay its first dividend of $1.10 per share. Due to the company's success,

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6. A company is currently experiencing a very successful period and will pay its first dividend of $1.10 per share. Due to the company's success, the dividend is expected to grow at a rate of 16.21% for five years. Then, it will level off and grow at a constant rate of 6.68% each year. Assume the discount rate for this company is 7.55%. a. What is the current value of this stock? (25 points)

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