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Alpha Industries plans on reinvesting heavily in itself for the next few years. The company plans to pay a $6 dividend next year, which will
Alpha Industries plans on reinvesting heavily in itself for the next few years. The company plans to pay a $6 dividend next year, which will decrease by 3% for two years. After that, dividends are expected to grow at a 5% rate, indefinitely. If investors require a 10% return, what is the value of Alpha stock? Round intermediate steps to four decimals and your final answer to two decimals. Do not use the dollar sign when entering your answer.
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