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new gradgets, incorporated currently pays no dividend but is expectednto pay its first annual dividend of $ 5 . 1 5 per share exactly 6

new gradgets, incorporated currently pays no dividend but is expectednto pay its first annual dividend of $5.15 per share exactly 6 years from today. after that, the dividends are expected to grow at 4 percent forever if the required return is 11.8 percent, what is the price of the stock today?

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