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Dividends of the SMI Co. are expected to grow at 12% p.a. for the next three years, with the growth rate falling off to a
Dividends of the SMI Co. are expected to grow at 12% p.a. for the next three years, with the growth rate falling off to a constant 4 percent thereafter. If the required return is 12 percent and the company just paid a $2 dividend, what is the current share price? Round to the nearest whole dollar. Do not include a symbol in your
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