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A stock just paid a dividend of $1.00. The dividend is expected to grow at 25% for two years, then at 20% for two years
A stock just paid a dividend of $1.00. The dividend is expected to grow at 25% for two years, then at 20% for two years before settling down to a long run growth rate of 5%. If investors expect a return of 15% to hold the stock, what price should it sell for?
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