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7 . A stock will pay a dividend of $ 9 . 8 exactly one year from now. Future dividends will grow at 1 7

7. A stock will pay a dividend of $9.8 exactly one year from now. Future dividends will grow at 17% for the following 2 years and then a constant 2% every year thereafter. If the stock's required rate of return is 14.8%, what is a fair price for the stock today? Round your answer to the nearest penny.

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