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Price Corporation is expected to pay the following dividends over the next four years: $10, $15, $7, and $3. Afterwards, the company pledges to maintain
Price Corporation is expected to pay the following dividends over the next four years: $10, $15, $7, and $3. Afterwards, the company pledges to maintain a constant 3 percent growth rate in dividends, forever. If the required return on the stock is 12 percent, what is the current share price?
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