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Over the next two years, Donald Duck Inc plans to not pay any dividends and instead reinvest all of its earnings. Beginning in year three,

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Over the next two years, Donald Duck Inc plans to not pay any dividends and instead reinvest all of its earnings. Beginning in year three, the firm will pay a $3.57 per share dividend, which will increase 2% annually thereafter. What should the stock sell for today if the required return is 18 percent? $13.58 B $16.02 $18.91 $22.31 E $26.36

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