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Problem 8-15 Nonconstant Growth LO1] Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine

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Problem 8-15 Nonconstant Growth LO1] Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The company will pay a $15 per share dividend 10 years from today and will increase the dividend by 5 percent per year thereafter. If the required return on this stock is 15 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places.e.g. 32.16) Current share price

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