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A stock will not pay dividends for the next 3 years and will resume paying dividend at t=4. The dividend is estimated to be $
A stock will not pay dividends for the next 3 years and will resume paying dividend at t=4. The dividend is estimated to be $ 5 per share and will grow at a constant rate of 2% forever. If the required rate of return on equity is 12%, what is the stock value?
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