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Johnson Corp is a young startup company. They will not pay any dividend for the first 5 years. In 6,7 and 8 they will pay

Johnson Corp is a young startup company. They will not pay any dividend for the first 5 years. In 6,7 and 8 they will pay 7$ dividend after which they will expect dividends to grow at 6% forever. If the required rate of return is 12% what is the present value of the stock?

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