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Doc Brown, Inc. just paid a dividend of D0 = $1.21. Analysts expect the company's dividend to grow by 23% this year, by 23% in
Doc Brown, Inc. just paid a dividend of D0 = $1.21. Analysts expect the company's dividend to grow by 23% this year, by 23% in Year 2, and at a constant rate of 6% in Year 3 and thereafter. The required return on this low-risk stock is 10%. What is the best estimate of the stocks current market value, $ xxx.xx, no $ sign?
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