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At the end of the year 2022 Great Lakes Corporation paid dividends $4.47 per share. The company projects the following annual growth rates in

At the end of the year 2022 Great Lakes Corporation paid dividends $4.47 per share. The company projects the following annual growth rates in dividends: Year Growth Rate 2023 14% 2024 11% From year 2025 onward growth in dividends is expected to remain constant at 2% per year. The required rate of return for this stock is 10.42%. Calculate the economic value of the stock now (end of the Year 2022).

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