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Crimson Corporation pays a current annual dividend of $0.48. It is expected to grow by 15% for the next three years, and then decline linearly
Crimson Corporation pays a current annual dividend of $0.48. It is expected to grow by 15% for the next three years, and then decline linearly over six (6) years from 15% to 6%. It will grow at 6% thereafter. The required rate of return is 10%. Using a three-stage DDM, the value of the stock is closest to:
$19.81
$24.27
$18.24
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