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Ortiz Power Tools Co. recently paid a $1.00 per share dividend on its stock. The company expects to be able to increase its dividend by
Ortiz Power Tools Co. recently paid a $1.00 per share dividend on its stock. The company expects to be able to increase its dividend by 20% next year and then increase its dividends by an annual growth rate of 7.5% for the foreseeable future. What is the current price of the stock assuming the market is in equilibrium and a required rate of return of 12.5%
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