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Impossible Corporation just paid a dividend of $ 1 . 3 0 per share. The dividends are expected to grow at 1 6 percent for

Impossible Corporation just paid a dividend of $1.30 per share. The dividends are expected to grow at 16 percent for the next eight years and then level off to a growth rate of 5 percent indefinitely. If the required return is 11 percent, what is the price of the stock today?

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