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7. BBM Co. stock just paid $2.00 dividend per share. The market expects that the dividend will grow at 7% annually for the next 3

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7. BBM Co. stock just paid $2.00 dividend per share. The market expects that the dividend will grow at 7% annually for the next 3 years and then 2% annually forever. Assuming a required return of 8%, how much is the present value of the stock? (round to 3 decimals)

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