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An analyst feels that Brown Company's earnings and dividends will grow at 38% for two years, after which growth will fall to a constant rate

An analyst feels that Brown Company's earnings and dividends will grow at 38% for two years, after which growth will fall to a constant rate of 7.9%. If the projected discount rate is 14%, and Brown's most recently paid dividend was $ 2.8, what is the value of Brown's stock using the multistage dividend discount model?

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