Arancia Corporation $($AC$)$ just paid a dividend of $$1\mathrm{.}32$ per share. Analysts expect the AC's dividend to grow by $30\%$ this year, by $10\%$ in Year $2,$ and at a constant rate of $5\%$ in year $3$ and after that. AC's beta coefficient is $1\mathrm{.}10,$ the market risk premium is $5\%,$ and the risk$-$free rate is $3\mathrm{.}5\%.$ What is the current market value of AC stock?Answer$-$

The current market value of AC stock is $44\mathrm{.}87.$

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