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A7X Corp. just paid a dividend of $1.55 per share. The dividends are expected to grow at 21 percent for the next eight years and
A7X Corp. just paid a dividend of $1.55 per share. The dividends are expected to grow at 21 percent for the next eight years and then level off to a growth rate of 3.5 percent indefinitely. If the required return is 12 percent, what is the price of the stock today?
(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Please explain using HP financial calculator.
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