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8-5. Nonconstant Growth Valuation A company currently pays a dividend of $2 per share, Do=$2. It is estimated that the company's dividend will grow at

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8-5. Nonconstant Growth Valuation A company currently pays a dividend of $2 per share, Do=$2. It is estimated that the company's dividend will grow at a rate of 14% per year for the next 2 years, then the dividend will grow at a constant rate of 7% thereafter. The company's stock has a beta equal to 1.8, the risk-free rate is 4.5%, and the market risk premium is 4%. What is your estimate of the stock's current price

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