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A garment companys current EPS is RM5 and has a dividend pay-out ratio of 30 percent. Dividend is expected to grow at an annual rate

A garment companys current EPS is RM5 and has a dividend pay-out ratio of 30 percent. Dividend is expected to grow at an annual rate of 8 percent for the first 3 years and then increase to a normal growth of 10 percent. If the required rate of return is 14 percent, calculate the value of the stock today.

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