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A B C ' s most recent dividend was $ 5 . The dividend next year is expected to increase 7 % . The following

ABC' s most recent dividend was $5. The dividend next year is expected to increase 7%. The following year, it is expected to increase 6%, and all years after that is is expected to grow at a constant rate of 5%. Calculate the intrinsic value using the multi-stage dividend discount model. ABC 's required rate of return is 9%.
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