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A stock just paid a dividend of $1.08. Analysts expect the company's dividend to grow by 25% this year, by 15% in Year 2, and

A stock just paid a dividend of $1.08. Analysts expect the company's dividend to grow by 25% this year, by 15% in Year 2, and at a constant rate of 6% in Year 3 and thereafter. The required return on this low-risk stock is 10%. What is the stocks present value?

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