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Required: Deployment Specialists pays a current (annual) dividend of $1 and is expected to grow at 20% for two years and then at 6% thereafter.

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Required: Deployment Specialists pays a current (annual) dividend of $1 and is expected to grow at 20% for two years and then at 6% thereafter. If the required return for Deployment Specialists is 8.5%, what is the intrinsic value of its stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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