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BONUS: Staton - Smith Software is a new up - start company and will not pay dividends for the first five years of operation. It
BONUS: StatonSmith Software is a new upstart company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of $ with a constant growth rate of with the first dividend at the end of year six. The company will pay dividends for years. What is the price of this stock if an investor wants a return?
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