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Auto Bearings, Inc. is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs

Auto Bearings, Inc. is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to growth. The company will pay a $10 per share dividend in 10 years and will increase the dividend by 6% per year thereafter. If the required return on this stock is 13% what is the current share price?

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