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Oppenheimer Inc. just paid a dividend ( D 0 ) of $ 3 . 0 0 / share . The firm's dividend payment is expected

Oppenheimer Inc. just paid a dividend (D0) of $3.00/share. The firm's dividend payment is expected to undergo fast growth for the next five years in a row at 75% each year (between t =0 and t =5); then the firm's dividend will grow at 25% each year for 5 more years (between t =5 and t =10) until it slows down to a permanent growth rate of 5% per year forever. Required rate of return (discount rate) for equity is 12%.Based on the dividend discount model, how much should the company's stock (per share) be trading at?

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