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Kaci Co. is expected to pay the following dividends over the next three years: $6, $3, and $1. Afterwards, the company pledges to maintain a
Kaci Co. is expected to pay the following dividends over the next three years: $6, $3, and $1. Afterwards, the company pledges to maintain a constant 5% growth rate in dividends forever. If the required return on the stock is 10%, what is the current share price (approximately)?
$21
$27
$24
$33
$20
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