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A firm does not pay a dividend. It is expected to pay its first dividend of $1.10 per share in 2 years. This dividend will

A firm does not pay a dividend. It is expected to pay its first dividend of $1.10 per share in 2 years. This dividend will grow at 14 percent indefinitely. Using a 16 percent discount rate, compute the current value of this stock. $48.51 $56.10 $47.41 $55.00

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