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A company just paid a dividend of $3. It plans to grow the dividend by 11% next year, by 7% in two years and 7%

A company just paid a dividend of $3. It plans to grow the dividend by 11% next year, by 7% in two years and 7% the third year. At the beginning of the fourth year it will grow by 4% forever. If the required rate of return is 7%. What is the value of the stock today?

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