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Drake Shipping is expected to pay the following dividends over the next four years: Year 1 : $ 3 . 8 0 Year 2 :

Drake Shipping is expected to pay the following dividends over the next four years:
Year 1: $3.80
Year 2: $5.30
Year 3: $3.60
Year 4: $2.20.
Afterward, the company will target a 3 percent growth rate in dividends. If the required return on the stock is 18 percent, what is the current share price?

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