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Cheetos Inc. stocks pay no dividend. In 14 years from today, the company is expected to pay its first annual dividend of $3.50 per share.

Cheetos Inc. stocks pay no dividend. In 14 years from today, the company is expected to pay its first annual dividend of $3.50 per share. Then the dividend growth is expected to be 2.40% forever. If the required return on similar stocks is 14.50%, what is the value of the Cheetos Inc. stock now?

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