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(Assume the market is in equilibrium with Assume that the average firm in C&J Corporation's industry is expected to grow at a constant rate of

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(Assume the market is in equilibrium with Assume that the average firm in C&J Corporation's industry is expected to grow at a constant rate of 6% and that its dividend yield is 7%. C&J is about as risky as the average firm in the industry and just paid a dividend (D) of $1. Analysts expect that the growth rate of dividends will be 50% during the first year (80.1 = 50%) and 25% during the second year (8,2 = 25%). After Year 2, dividend growth will be constant at 6%. What is the required rate of return on C&J's stock? What is the estimated intrinsic per share

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