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Please show all of your work, thank you Quantitative Problem 3: Assume today is December 31,2017 . Imagine Works Inc. just paid a dividend of

image text in transcribedPlease show all of your work, thank you

Quantitative Problem 3: Assume today is December 31,2017 . Imagine Works Inc. just paid a dividend of $1.25 per share at the end of 2017 . The dividend is expected to grow at 12% per year for 3 years, after which time it is expected to grow at a constant rate of 5.5% annually. The company is 9%. Using the dividend growth model (allowing for nonconstant growth), what should be the price of the company's stock today (December 31 , 2017)? Round your answer to the nearest cent. Do not round intermediate calculations. $ per share

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