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A firm recently paid a $0.55 annual dividend. The dividend is expected to increase by 11 percent in each of the next four years. In

A firm recently paid a $0.55 annual dividend. The dividend is expected to increase by 11 percent in each of the next four years. In the fourth year, the stock price is expected to be $26. If the required return for this stock is 14.5 percent, what is its current value?

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