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A stock will pay dividends of $? four years from today, $? five years from today, and $? six years from today. There will be
A stock will pay dividends of $? four years from today, $? five years from today, and $? six years from today. There will be no dividend payments prior to year 4. After year 6, the growth rate in dividends per year is expected to be 6% forever. The required return on the stock is 11%. P3, the price of the stock 3 years from now, is estimated to be $35.74. P0, the price of the stock today, should be $_____.
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