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Jamie Co. just paid a dividend of $1, and its dividend is expected to grow at 24% for two years and then at 4% thereafter.

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Jamie Co. just paid a dividend of $1, and its dividend is expected to grow at 24% for two years and then at 4% thereafter. If the required return for Jamie Co. is 9.0%, what is the intrinsic value of its stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Intrinsic value

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