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Problem 9 . 1 4 ( Nonconstant Growth ) q , q , should be a constant 4 % per year. If the required return

Problem

9.14 (

Nonconstant Growth

)

q, q,

should be a constant

4 %

per year. If the required return on Computech is

13 %,

what is the value of the stock today? Do not round intermediate calculations. Round your answer to the nearest cent. $

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