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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 10%, 8%, and 6%

Corn, Inc., has just paid a dividend of $1.2 per share and has announced that it will increase the dividend by 10%, 8%, and 6% for each of the next three consecutive years. Afterwards, the company pledges to maintain a constant 4 percent growth rate in dividends, forever. If the required return on the stock is 9 percent, how much will you pay for a share of Corns stock today?

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