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Jensen Technology, has not paid any dividends to its stockholders. It is expected to pay its first dividend of $5.00 in 4 years, and will

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Jensen Technology, has not paid any dividends to its stockholders. It is expected to pay its first dividend of $5.00 in 4 years, and will continue paying dividends that grow at the rate of 5% each year. If an investor requires a return of 9% on Jensen stock, what price would the investor be willing to pay for Jensen stock

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