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Currently, Aerosmith Inc. pays no dividends. However, analysts forecast that in 3 years Aerosmith Inc. will pay its first annual dividend of $0.75 and dividends

Currently, Aerosmith Inc. pays no dividends. However, analysts forecast that in 3 years Aerosmith Inc. will pay its first annual dividend of $0.75 and dividends will grow at 5.8% per year thereafter. If stocks with similar risk to the equity of Aerosmith Inc. currently earn 15.5%, estimate the current share price of Aerosmith Inc.

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