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A common stock currently pays no dividend but is expected to initiate a dividend of $0.10 per share three years from today. If analysts expect
A common stock currently pays no dividend but is expected to initiate a dividend of $0.10 per share three years from today. If analysts expect the companys earnings and dividends to grow by 12 percent for one year, then slow to a rate of 7 percent thereafter. What is the value of the stock if the appropriate required rate of return is 15 percent? $0.99
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