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A stock just paid a dividend of $2. The stock is expected to increase its dividend payment by 50% per year for the next 3

A stock just paid a dividend of $2. The stock is expected to increase its dividend payment by 50% per year for the next 3 years. After that, dividends will grow at a rate of 5% forever. If the required rate of return is 7%, what is the price of the stock today?

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