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Professor M Rahman has a contract in which he will receive the following dividend payments for the next four years: $1, $2, $3, and $4.

Professor M Rahman has a contract in which he will receive the following dividend payments for the next four years: $1, $2, $3, and $4. He will then receive an annuity of $6 a year from the end of the 5th through the end of the 12th year. The appropriate discount rate is 8%. Calculate the current price of the stock.

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