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Cambridge Inc. has just paid dividends of $1. The company expects supernormal growth of 25% for the next 5 years, followed by 5% growth thereafter.

Cambridge Inc. has just paid dividends of $1. The company expects supernormal growth of 25% for the next 5 years, followed by 5% growth thereafter. The required rate of return on stocks with similar risk as Cambridge Inc. is 10%. What is the share price of Cambridges stock?

The answer is 47.25

I just dont know how to arrive at the answer

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