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AMC Inc. will pay no dividend for the next two years. At the end of three years from now, it will pay a dividend of

AMC Inc. will pay no dividend for the next two years. At the end of three years from now, it will pay a dividend of $2.49. Thereafter, dividends will grow at 4% per year. If the required rate of return is 11%, the intrinsic value of AMC shares is

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