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Chase Bliss Audio, Inc., is a young start-up company. No dividends will be paid on the stock over the next 5 years because the firm
Chase Bliss Audio, Inc., is a young start-up company. No dividends will be paid on the stock over the next 5 years because the firm needs to retain its earnings to fuel growth. The company will pay a dividend of $15.75 per share in 5 years and will increase the dividend by 5 percent per year thereafter. If the required return on this stock is 12 percent, what is the current share price
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