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ABC Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to

ABC Inc. is presently enjoying relatively high growth because of a surge in the demand for its new product. Management expects earnings and dividends to grow at a rate of 20% for the next 3 years, 15% in year 4, and after which competition will probably reduce the growth rate in earnings and dividends to zero. The company

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