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Company A just paid a dividend of $3,00 on its stock. The growth rate in dividends is expected to be a constant 5 percent per

  1. Company A just paid a dividend of $3,00 on its stock. The growth rate in dividends is expected to be a constant 5 percent per year indefinitely. Investors require a 16 percent return on the stock for the first six years, and the same return thereafter. What is the current share price of the stock?

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