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( Non - constant growth ) Pettyway Corp's next annual dividend ( D 1 ) is expected to be $ 4 . After that, the

(Non-constant growth)Pettyway Corp's next annual dividend (D1) is expected to be $4. After that, the growth rate in dividends over the next three years is forecasted at 6%. And after that, Pettyway's growth rate in dividends is expected to be 9%. The required return is 14%. Then the value of the stock is $.q,
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