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Gorgon Stoneworks Co. does not expect to pay any dividends for the next three years. Four years from now, the firm hopes to pay $.59
Gorgon Stoneworks Co. does not expect to pay any dividends for the next three years. Four years from now, the firm hopes to pay $.59 a share and double that amount each year for the following three years. After that, the dividend is expected to increase in value by 3.9 percent annually. What is the value of this stock today if the required return is 9.2 percent?
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