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ABC,. Inc just paid a dividend of $ 2 7 . 1 4 . The dividends are expected to grow by 1 3 % in

ABC,. Inc just paid a dividend of $

27.14 .

The dividends are expected to grow by

13 %

in Years

1

and

2 .

After that, the dividends are expected to grow by

8 %

each year. If the required rate of return is

17 %,

what is today's price of the stock?

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