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A company s dividend is expected to grow at 2 0 % for the next six years. After that, the growth is expected to be

A company

s dividend is expected to grow at

20 %

for the next six years. After that, the growth is expected to be

3 %

forever. If the required return is

10 %,

what is the value of the stock today? The dividend just paid was $

1 .

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