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Red Sun Rising just paid a dividend of $ 2 . 6 1 per share. The company said that it will increase the dividend by

Red Sun Rising just paid a dividend of $2.61 per share. The
company said that it will increase the dividend by 25 percent and
20 over the next two years, respectively. After that, the company
is expected to increase its annual dividend at 3.5 percent. If the
required return is 12.1 percent, what is the stock price
today?

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