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A firm does not pay a dividend. It is expected to pay its first dividend of $0.48 per share in three years. This dividend will

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A firm does not pay a dividend. It is expected to pay its first dividend of $0.48 per share in three years. This dividend will grow at 14 percent indefinitely. Use a 15 percent discount rate. Compute the value of this stock (Round your answer to 2 decimal places.) Stock value References eBook & Resources Worksheet Difficulty 2 Intermediate

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