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Hi-yield inc. is currently paying a $2.40 quarterly dividend on shares of its stock.Hi-yield paid a $1.80 quarterly dividend eight years ago.The dividend has grown

Hi-yield inc. is currently paying a $2.40 quarterly dividend on shares of its stock.Hi-yield paid a $1.80 quarterly dividend eight years ago.The dividend has grown at a consistent rate and is expected to continue doing so.The current required rate of return on Hi-yield is 12%.What is the value of a share of Hi-yield's stock?

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