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Engineer Corp. projects to pay a dividend of $0.75 next year (i.e., D 1 =$.75) and then have it grow at 12% for the next
Engineer Corp. projects to pay a dividend of $0.75 next year (i.e., D1=$.75) and then have it grow at 12% for the next 3 years before growing at 8% indefinitely thereafter. The equity has a required return of 10% in the market. The price of the stock should be about?
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