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AT&T expects to pay an $8 dividend this year, dividends are expected to grow at an 8% rate for the next 3 years and at

AT&T expects to pay an $8 dividend this year, dividends are expected to grow at an 8% rate for the next 3 years and at a 4% right after that. What is the value of the stock if investors require a 13% return to purchase the stock?

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