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Firm XYZ is expected to pay the following dividends (per share) over the next 2 years: 20 (at t=1) and 30 (at t=2). From then

Firm XYZ is expected to pay the following dividends (per share) over the next 2 years: 20 (at t=1) and 30 (at t=2). From then on, dividends are expected to grow at a constant growth rate of 3% forever. If the discount rate that applies to the dividends is 12%, what is the current share price?

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