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Company is expanding and currently pays no dividends. Investors expect the company to pay a dividend of two dollars coming three years from today. The

Company is expanding and currently pays no dividends. Investors expect the company to pay a dividend of two dollars coming three years from today. The dividend should grow rapidly at the rate of 45% per year doing the year four and five but after year five growth should be constant at the rate of 4% per year. If the required return on the companys 17% what is the value of the stock today do not round intermediate calculation round your answer to nearest cent

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