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Luxury Yacht Co. just paid a dividend of $4.20. However, due to the current economic climate, they announced that dividends at that level will be

Luxury Yacht Co. just paid a dividend of $4.20. However, due to the current economic climate, they announced that dividends at that level will be unsustainable and that dividends will decrease by 20% each year for the next three years after which they will remain at a constant amount. If the required return is 15%, what is the price of the stock following this announcement?

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