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A stock just paid a dividend of $2.09. The dividend is expected to grow at 27.55% for three years and then grow at 3.37% thereafter.

A stock just paid a dividend of $2.09. The dividend is expected to grow at 27.55% for three years and then grow at 3.37% thereafter. The required return on the stock is 12.80%. What is the value of the stock?

(Note for tutor/expert: Please use Dividend table method)

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