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ABC company will pay an annual dividend of $2.00 next year. The dividend will increase by 9 percent a year for the following two years
ABC company will pay an annual dividend of $2.00 next year. The dividend will increase by 9 percent a year for the following two years before growing at 3 percent indefinitely thereafter. If the required rate of return is 11 percent, what is the stock's current value?
Please answer with formula not excel or financial calculator
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