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Company Hat has just paid a dividend of $4.20. An analyst forecasts annual dividend growth of7percent for the next five years; then dividends will decrease

Company Hat has just paid a dividend of $4.20. An analyst forecasts annual dividend growth of7percent for the next five years; then dividends will decrease by 1 percent per year in perpetuity. The required return is10percent (effective annual return, EAR). What is the current value per share according to the analyst?

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