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City Movers announced its next annual dividend will be $.60 a share. The following dividends will be $.75, and $.95 a share annually for the

City Movers announced its next annual dividend will be $.60 a share. The following dividends will be $.75, and $.95 a share annually for the following two years, respectively. After that, dividends are projected to increase by 4.5 percent per year. How much is one share of this stock worth at a rate of return of 12.5 percent? (Show your formula/ equation/ calculations)

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