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A stock is expected to pay dividends of $ 1 . 2 0 per share in Year 1 and $ 1 . 3 5 per

A stock is expected to pay dividends of $1.20 per share in Year 1 and $1.35 per share in Year 2. After that, the dividend is expected to increase by 2.5% annually. What is the current value of the stock at a discount rate of 14.5%?
$11.29
$10.87
$12.07
$13.39
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