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ETS produces dividends of 0.20 and 0.40 in the first two years, respectively. The dividend in year three is estimated to be .80 and should

ETS produces dividends of 0.20 and 0.40 in the first two years, respectively. The dividend in year three is estimated to be .80 and should grow in perpetuity at 4% growth rate. Given a discount rate o...

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