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A common stock will pay a cash dividend of $5 next year. After that, the dividends are expected to increase indefinitely at 3% per year.

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A common stock will pay a cash dividend of $5 next year. After that, the dividends are expected to increase indefinitely at 3% per year. If the discount rate is 10%, what is the PV of the stream of dividend payments? (Round your answer to 2 decimal places.) X Answer is complete but not entirely correct. Present value $ 71.42

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