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Assume a company plans to pay the following dividends: $2 in year 1; $5 in year 2; $4 in year 3; $5 in year 4.
Assume a company plans to pay the following dividends: $2 in year 1; $5 in year 2; $4 in year 3; $5 in year 4. After that, dividends are expected to grow at a constant rate of 6%. If an investor's required rate of return is 10%, what is the current market price of the company's stock?
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