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Now it's time for you to practice what you've learned. Suppose that the firm recently paid a dividend $2.20. It expects to have nonconstant growth

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Now it's time for you to practice what you've learned. Suppose that the firm recently paid a dividend $2.20. It expects to have nonconstant growth of 8% for 3 years and then a constant rate of 6% thereafter. The firm's required return is 7%. The firm's horizon, or continuing, value is and its intrinsic value today is

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