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Meg A. Hertz Electronics is expected to pay no dividends over the next three years, followed by a $0.50 dividend in four years. The dividend

Meg A. Hertz Electronics is expected to pay no dividends over the next three years, followed by a $0.50 dividend in four years. The dividend will then grow indefinitely by 3% annually. If the stock has a 9% required return, what should be the stock price?

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