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Problem 7-19 Nonconstant Growth (LO2) You expect a share of stock to pay dividends of $1.80, $2.05, and $2.20 in each of the next 3

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Problem 7-19 Nonconstant Growth (LO2) You expect a share of stock to pay dividends of $1.80, $2.05, and $2.20 in each of the next 3 years. You believe the stock will sell for $24 at the end of the third year. a. What is the stock price if the discount rate for the stock is 20%? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Stock price $ b. What is the dividend yield? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Dividend yield 1%

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