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Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $21.00, $15.00, $6.40 and $2.90. Afterwards, the company pledges to
Leisure Lodge Corporation is expected to pay the following dividends over the next four years: $21.00, $15.00, $6.40 and $2.90. Afterwards, the company pledges to maintain a constant 3 percent growth rate in dividends forever. If the required return on the stock is 18 percent, what is the current share price?
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