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a. FIN 921 Ltd is a fast growing stock and expects to grow at an annual rate of 30% for the next five years.

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a. FIN 921 Ltd is a fast growing stock and expects to grow at an annual rate of 30% for the next five years. It then will settle down to a constant-growth rate of 5%. The first dividend will be paid out in Year 4, and will be equal to $2. The required rate of return is 15%. What is the (8 marks) current price of the stock?

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