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A firm is planning on paying its first dividend of $2 three years from today. After that, dividends are expected to grow at 6% per

A firm is planning on paying its first dividend of $2 three years from today. After that, dividends are expected to grow at 6% per year indefinitely. The stock's required return is 12%. What is the intrinsic value of a share today?

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$24.05

$33.22

$26.57

$19.24

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