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A firm recently paid a dividend of $0.75 per share. The dividend is expected to grow by 25% for the next 3 years. The dividend

A firm recently paid a dividend of $0.75 per share. The dividend is expected to grow by 25% for the next 3 years. The dividend is expected to grow by a more modest 12% thereafter. What is the firm's stock value given a 15% discount rate?

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