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If Done in Excel Please show Formulas for Each Cell Spartan Spirit Corporation's share is trading in the open market. The company is expected to

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If Done in Excel Please show Formulas for Each Cell

Spartan Spirit Corporation's share is trading in the open market. The company is expected to pay $5 dividend next year (year 1), but the dividend is expected to grow at 6% for another 4 years (till the end of year 5), but then decrease by 3% for another 5 years because of foreseeable financial difficulties. But after that, the dividend is expected to grow again at 2% forever, which is roughly the expected GDP growth rate at US. The required return of this stock is 10%. Price this stock. Clearly show your calculations and formulas. (Hint: use growing annuity formula and growing perpetuity for- mula, be ware of the time vantage points!)

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