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7. Company TYK pays dividends annually, with next year's dividend expected to be $1 a share. For the next seven years, dividends are expected to

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7. Company TYK pays dividends annually, with next year's dividend expected to be $1 a share. For the next seven years, dividends are expected to grow at a rate of 6% a year. Thereafter, dividends are expected to remain constant. (a) What is the dividend per share in year 7? (b) Assume the discount rate is 5%. How much would you pay for one share in Company TYK

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