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Miller Corporation's next dividend is expected to be $7. Dividend growth is estimated at 22%, 20%, 10% and then expected to stabilize to 3%. The

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Miller Corporation's next dividend is expected to be $7. Dividend growth is estimated at 22%, 20%, 10% and then expected to stabilize to 3%. The required rate of return is 10%. a. Calculate the dividend in the first, second, third, fourth and fifth years. Show all your work. (1 point) b. Using your answers in a), calculate what price would you be willing to pay for this stock today. Show all your work. (2 points)

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