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A companys last dividend was $1.50 per share at the end of the year. For the next three years, the growth rate is expected to

A companys last dividend was $1.50 per share at the end of the year. For the next three years, the growth rate is expected to be 23% per year, after which the growth rate is expected to continue at a constant rate of 7% per share. Shareholders require 12% rate of return. What would you be willing to pay for this stock today? Show the answer by hand not using excel.

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