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Mayo is expected to pay a dividend in year 1 of $1.85, a dividend in year 2 of $2.17, and a dividend in year 3
Mayo is expected to pay a dividend in year 1 of $1.85, a dividend in year 2 of $2.17, and a dividend in year 3 of $2.84. After year 3, dividends are expected to grow at the rate of 6% per year. An appropriate required return for the stock is 11%. The stock should be worth _______ today.
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