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ABC Company are expected to gave the following dividends paying structure in the future: No dividends are expected to be paid in the first five

ABC Company are expected to gave the following dividends paying structure in the future:

No dividends are expected to be paid in the first five years

Dividends are expected to grown at a constant rate of 5% per yearn thereafter until (and including) year 10

Dividends are then expected ton grow at a constant rate of 3% per year thereafter forever

The required rate of return is 10% what is the value of one share of ABC Company? Show your calculations.

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