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Gentleman Gym just paid its annual dividend of $5 per share, and it is widely expected that the dividend will increase by 2% per year

Gentleman Gym just paid its annual dividend of $5 per share, and it is widely expected that the dividend will increase by 2% per year indefinitely.

a) What price should the stock sell at if the discount rate is 12%

b) What price should the stock sell at if the discount rate is 8%

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