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( Non - constant growth ) Pettyway Corp's next annual dividend ( D 1 ) is expected to be $ 4 . After that, the
Nonconstant growthPettyway Corp's next annual dividend is expected to be $ After that, the growth rate in dividends over the next three years is forecasted at And after that, Pettyway's growth rate in dividends is expected to be The required return is Then the value of the stock is $
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