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Prpremier Inc. has an odd dividend policy. The company has just paid a dividend of $ 5 . 8 5 per share and has announced

Prpremier Inc. has an odd dividend policy. The company has just paid a dividend of $5.85 per share and has announced that it will increase the dividend by $10.75 per share for each of the next four years, and then never pay another dividend. If you require a return return of 12% on the company stock, how much will you pay for a share today?

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