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Bonnie Software Products is expected to pay a dividend of $1.20 over the coming year. The dividend is expected to grow at 20 percent a
Bonnie Software Products is expected to pay a dividend of $1.20 over the coming year. The dividend is expected to grow at 20 percent a year for the following two years. For every year after Year 3, the dividend is expected to grow at 5 percent a year. The required return for Bonnie is 12 percent. What is its intrinsic value? Express your answer in dollars and cents to the nearest cent.
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