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Nonconstant Growth Stock Valuation Year 5 , the company sheald grow at a constant rate of 8% per yeat. If the required retum on the

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Nonconstant Growth Stock Valuation Year 5 , the company sheald grow at a constant rate of 8% per yeat. If the required retum on the stock is 17%, what is the value of the stock today (ascirme the manket is in equitibnum with the reguired retum equal to the expected return)? Do not round intermediate calculations. found your ancer to the nearest cent

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