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Ranch Services just paid its annual dividend of $2.50 per share. The dividends are expected to grow at 24 percent annually for the next 4

Ranch Services just paid its annual dividend of $2.50 per share. The dividends are expected to grow at 24 percent annually for the next 4 years and then level off to an annual growth rate of 7 percent indefinitely. What is the price of this stock today given a required return of 10.25 percent?

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