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Rivera Inc. currently pays no dividends and plans to maintain that policy for the next few years. However, they plan to begin paying a $1

Rivera Inc. currently pays no dividends and plans to maintain that policy for the next few years. However, they plan to begin paying a $1 annual dividend in year 4. After year 4, the dividend is expected to grow at 5%. The required return for the stock is 10%. What is the current price of the stock?

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