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Maloney Inc has an odd dividend policy. The company has just paid a dividend of $6/share and has announced that it will increase the dividend

Maloney Inc has an odd dividend policy. The company has just paid a dividend of $6/share and has announced that it will increase the dividend by $5/share each of the next five years and then never pay another dividend. If you require a return of 15% on the company's stock, how much will you pay for a share today?

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