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Flute Ltd. common shares have a required rate of return of 18 percent. The company anticipates paying a dividend of $1.10 for the next four

Flute Ltd. common shares have a required rate of return of 18 percent. The company anticipates paying a dividend of $1.10 for the next four years, after which the dividend will grow at 7 percent a year indefinitely. Required: What is the expected current price of Flute Ltd. common shares? Show calculations to support your

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