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Mirage Construction Inc. recently paid an annual dividend of $1.55. The company expects to pay a dividend of $2.77 one year from today, after which
Mirage Construction Inc. recently paid an annual dividend of $1.55. The company expects to pay a dividend of $2.77 one year from today, after which dividends will grow at 5% per year forever. How much is one share of Mirages stock worth today if the required rate of return is 11%?
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