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Nachman Industries just paid a dividend of D 0 = $4.00. Analysts expect the company's dividend to grow by 30% this year, by 10% in
Nachman Industries just paid a dividend of D0 = $4.00. Analysts expect the company's dividend to grow by 30% this year, by 10% in Year 2, and at a constant rate of 2% in Year 3 and thereafter. The required return on this low-risk stock is 8.00%. What is the best estimate of the stock's current market value? Do not round intermediate calculations.
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