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Citibank expects to pay a dividend of $2 per share on its common stock at the end of this year. The growth rate of the
Citibank expects to pay a dividend of $2 per share on its common stock at the end of this year. The growth rate of the dividend is 8% for the next 2 years. After that, the dividend is expected to grow at a constant growth rate of 5% per year forever. The required rate of return on the companys stock is 11%. What is the price of Citibank stock today?
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