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Corn, Inc., has just paid a dividend of $1.2 per share and has announced that it will increase the dividend by 8%, 7%, and 5%
Corn, Inc., has just paid a dividend of $1.2 per share and has announced that it will increase the dividend by 8%, 7%, and 5% for each of the next three consecutive years. Afterwards, the company pledges to maintain a constant 3 percent growth rate in dividends, forever. If the required return on the stock is 7 percent, how much will you pay for a share of Corns stock today?
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