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Lamar Corporation plans to retain all earnings for 5 years. The first dividend will be in year 6 for $2.4. the required return is 15%.

Lamar Corporation plans to retain all earnings for 5 years. The first dividend will be in year 6 for $2.4. the required return is 15%. The growth rate is 5%. What price should it sell for at the end of year 5?

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