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Last year, Gallagher Phamaceuticals paid a dividend of $1.55. Dividends are expected to increase by 12% for each of the next three years and then

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Last year, Gallagher Phamaceuticals paid a dividend of $1.55. Dividends are expected to increase by 12% for each of the next three years and then grow at a rate of 6% per year thereafter. Using the CAPM, analysts calculate the required rate of return on Gallagher stock to be 14%. Using the nonconstant growth model, What is the company's intrinsic stock valuel per share

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