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A firm expects to increase its annual dividend by 20% per year for the next two years and by 15% per year for the following

A firm expects to increase its annual dividend by 20% per year for the next two years and by 15% per year for the following two years. After that, the company plans to pay a constant annual dividend of $3.00 per share. The last dividend paid was $1.00 per share. What is the current value of this stock if the required rate of return is 12%?

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