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ECC Corp. will pay annual dividends of $10 per share for the next 7 years. At the end of year 8, ECC will increase the

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ECC Corp. will pay annual dividends of $10 per share for the next 7 years. At the end of year 8, ECC will increase the dividends by 5% per year forever. The required rate of return on this stock is 12 percent What is the price of the stock today? WRITE-IN how you got the

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