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From the following information calculate the price of the stock. The stock will pay its first annual dividend of $1.00 four years from now. The

From the following information calculate the price of the stock.

The stock will pay its first annual dividend of $1.00 four years from now. The dividends for years 5 and 6 will be $1.20 and $1.30, respectively. After year 6, dividends will grow by 2.00% p.a. forever. The required rate of return is 12.00% p.a.

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