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JJT Inc. recently paid a dividend of $3.00. The company is projecting that its dividend will grow by 15% next year, 10% each of the
JJT Inc. recently paid a dividend of $3.00. The company is projecting that its dividend will grow by 15% next year, 10% each of the seven years after that, and 5% each year thereafter. If JJTs cost of equity capital is 20%, What is the value of a share JJTs stock according to the dividend discount model? Round your final answer to two decimals.
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