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please explain Carmine Co. stock will pay a $4 dividend next year (D_1 = $4). After next year's dividend, the dividends will grow at a

please explain

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Carmine Co. stock will pay a $4 dividend next year (D_1 = $4). After next year's dividend, the dividends will grow at a 5% rate for the following two years and then grow at a 3% rate forever. The required rate of return for the stock is 8%. What will be the price of Carmine's stock in five years

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