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Flounder Inc. has just paid a dividend of $5.10. An analyst forecasts annual dividend growth of 7 percent for the next five years; then dividends

Flounder Inc. has just paid a dividend of $5.10. An analyst forecasts annual dividend growth of 7 percent for the next five years; then dividends will decrease by 1 percent per year in perpetuity. The required return is 10 percent (effective annual return, EAR). What is the current value per share according to the analyst?

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