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A firm just paid a dividend of $3.50 per share. The dividend is expected to grow by 25% in year 1, 20% in year 2,
A firm just paid a dividend of $3.50 per share. The dividend is expected to grow by 25% in year 1, 20% in year 2, and 10% in year 3. After year 3, the dividend is expected to grow by 5% per year to infinity. The stocks required rate of return is 8%. What is the current price?
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