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A company currently pays a dividend of $ 1 . 1 5 per share. It is estimated that the company's dividend will grow at a

A company currently pays a dividend of $1.15 per share. It is estimated that
the company's dividend will grow at a rate of 30 percent for the next 3 years,
then the dividend will grow at a constant rate of 8 percent thereafter. What
is the price of the stock if the required rate of return is 12,3%?

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