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Dakota Oranges Company paid an annual dividend of $2.88 per share yesterday. Dividends are expected to grow at a constant rate of 7% forever. The

Dakota Oranges Company paid an annual dividend of $2.88 per share yesterday. Dividends are expected to grow at a constant rate of 7% forever. The required rate of return is 16%.

Attempt 2/10 for 10 pts.

Part 1

What is the stock's current intrinsic value?

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