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JB Associates is experiencing a period of rapid growth rate. The companys current dividend of $1.40 is expected to grow at a rate of 20%

JB Associates is experiencing a period of rapid growth rate. The companys current dividend of $1.40 is expected to grow at a rate of 20% for the first 4 years, 15% for the next 2 years, and a constant growth rate of 6% thereafter. Given the cost of equity of 10%, the value of the stock today is closest to

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