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A company paid a dividend of $3.40 per share yesterday. The dividend is expected to remain constant for seven years. At year seven, after receiving
A company paid a dividend of $3.40 per share yesterday. The dividend is expected to remain constant for seven years. At year seven, after receiving the dividend, the stock can be sold for $71 a share. If the appropriate discount rate is 11 percent, what is the price of the stock today?
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