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In an analyst conference call House Outfitters Inc. updated the company's dividend forecast. For the next three years, no dividend is expected. In years 4,

In an analyst conference call House Outfitters Inc. updated the company's dividend forecast. For the next three years, no dividend is expected. In years 4, 5, and 6 the company will pay $.50 per share. Immediately after the year 6 dividend, the annual dividend will begin to grow at a perpetual rate of 2.5%. Calculate the company's current share price. The required return is 11.5%.

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