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Malcolm Manufacturing, Inc. just paid a $2.00 annual dividend (that is, D0 = 2.00). Investors believe that the firm will grow at 10% annually for

Malcolm Manufacturing, Inc. just paid a $2.00 annual dividend (that is, D0 = 2.00). Investors believe that the firm will grow at 10% annually for the next 2 years and 6% annually forever thereafter. Assuming a required return of 15%, what is the current price of the stock (to 2 decimal places)?

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