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Huang Company's last dividend was $ 1 . 2 5 . The dividend growth rate is expected to be constant at 3 0 % for

Huang Company's last dividend was $1.25. The dividend growth rate is expected to be constant at 30% for 3 years, after which dividends are expected to grow at a rate of 6% forever. The company's beta is 0.87,10-year government securities yields 4.31% and expected market return is 12%. Based on this model and the assumptions hold, what is stock intrinsic value?
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