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Golden Corp. is a young start-up company and therefore is not paying any dividends on the stock over the next 8 years. At the end

Golden Corp. is a young start-up company and therefore is not paying any dividends on the stock over the next 8 years. At the end of year 8, the company will pay a $5 dividend. The following year, the company will pay a dividend of $5.8 per share and thereafter it will increase the dividends by 4% per year forever. If the required rate of return on this stock is 11%, what is the current (today's) share price?

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