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Fast, a publicly traded NASCAR parts manufacturer paid a $ 0 . 7 5 dividend yesterday. The company's required rate of return on equity is

Fast, a publicly traded NASCAR parts manufacturer paid a $0.75 dividend yesterday. The company's required rate of return on equity is 12%. Assume that the company recently stole a super-secret turbobooster from Volvo that increases horsepower but cannot be detected by NASCAR computers. As a result, the company is expected to grow 25% next year, 15% the following year, and then at 7% forever. What is the price of the stock?
20.41
25.09
20.09
20.84
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