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P Company is expected to pay a dividend in year 1 of $10.00 and a dividend in year 2 of $11.00. After year 2, dividends
P Company is expected to pay a dividend in year 1 of $10.00 and a dividend in year 2 of $11.00. After year 2, dividends are expected to grow at the rate of 5% per year. An appropriate required return for the stock is 15%. Using the multistage DDM, the stock should be worth __________ today.
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