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Drake Shipping is expected to pay the following dividends over the next four years: Year 1: $1.50 Year 2: $4.30 Year 3: $2.40 Year 4:
Drake Shipping is expected to pay the following dividends over the next four years:
Year 1: $1.50
Year 2: $4.30
Year 3: $2.40
Year 4: $1.40.
Afterward, the company will target a 7 percent growth rate in dividends. If the required return on the stock is 14 percent, what is the current share price?
$
please don't round steps or answers
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