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A firm has just paid its current dividend of Do = $4.50. Analysts expect the firm's dividend to grow by 25% this year, by 20%

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A firm has just paid its current dividend of Do = $4.50. Analysts expect the firm's dividend to grow by 25% this year, by 20% in year 2, and then at a constant rate of 5% in year 3 and thereafter. If investors have a required return of 12%, what is the current price of the stock

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