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Elsinore Brewing, Inc. is a young start-up company. No dividends will be paid on the stock over the next 4 years. The company will then

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Elsinore Brewing, Inc. is a young start-up company. No dividends will be paid on the stock over the next 4 years. The company will then pay a $5 per share dividend in year 5 and will increase the dividend by 5% per year thereafter. If the required return on this stock is 15%, what is the current share price (approximately)? $33 $43 $53 $29 $23

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