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A company just paid an annual dividend of $1.10 per share. The dividend is expected to grow by 4.0%, 4.5%, and 12.5% over the next
A company just paid an annual dividend of $1.10 per share. The dividend is expected to grow by 4.0%, 4.5%, and 12.5% over the next three years, respectively. After that, the dividend is expected to increase by 2.5% annually. What is one share worth today if other stocks with similar riskiness have expected returns of 9.5%?
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