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Nancy Custom Cycles' common stock currently pays no dividends. The company plans to begin paying dividends next year. The first dividend will be $5.00 and
Nancy Custom Cycles' common stock currently pays no dividends. The company plans to begin paying dividends next year. The first dividend will be $5.00 and dividends will grow at 5 percent for the following year. After that, the dividend is projected to increase by 10 percent annually. Given a required return of 12 percent, what would you pay for the stock today?(Round to two decimal places)
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