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QUESTION 20 A company just paid a dividend of $1.20 per share. The consensus forecast of financial a nalysts is a dividend of $1.70 per

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QUESTION 20 A company just paid a dividend of $1.20 per share. The consensus forecast of financial a nalysts is a dividend of $1.70 per share next year and $2.40 per share two years from now. Thereafter, you expect the dividend to grow 6% per year indefinitely into the future. If the required rate of return is 14w per year, what would be a fair price for this stock today? (Aniswer to the nearest penny,)

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