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In order to buy back its own shares, XYZ , Inc. has decided to suspend its dividends for the next three years. It will resume

In order to buy back its own shares, XYZ, Inc. has decided to suspend its dividends for the next three years. It will resume its annual cash dividend of $4.00 per share in year 4 and $5.00 per share in year 5. Thereafter, its dividend payments will grow at an annual growth rate of 6 percent, forever. The required rate of return on the XYZ's stock is 14 percent. What should the firm's current share price be?
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