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A stock just paid an annual dividend of $2.50. Investors expect the dividend to grow at 20% for two years before settling down to a

A stock just paid an annual dividend of $2.50. Investors expect the dividend to grow at 20% for two years before settling down to a long run average annual growth rate of 4%. If investors require a 14% return to hold this stock, what price should the stock trade at?

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