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Hunter Petroleum Corporation will pay a $2.00 dividend at the end of this year. The dividend is expected to grow at a constant rate of

Hunter Petroleum Corporation will pay a $2.00 dividend at the end of this year. The dividend is expected to grow at a constant rate of 5% over the following three years and then remain constant at a rate of 3% forever. The required rate of return is 12%. 


Calculate the current value of the stock.

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