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A company just paid a dividend of $2.50. They expect to grow the dividend by 15% next year, and 6% the following year. The dividend

A company just paid a dividend of $2.50. They expect to grow the dividend by 15% next year, and 6% the following year. The dividend is expected to will grow 4% in year 3 and every year thereafter (constant growth). The cost of equity is 7%. Calculate the stock price today.

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