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A biotech firm forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. They then expects the company
A biotech firm forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. They then expects the company to grow at a constant rate of 9 percent forever. The company paid a dividend of $1.55 last week. If the required rate of return is 17 percent, what is the value of this stock?
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