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Rumba Corporation is expected to pay the following 4 annual dividends over the next four years: $14, $10, $7, and $4. Afterwards, the company pledges
Rumba Corporation is expected to pay the following 4 annual dividends over the next four years: $14, $10, $7, and $4. Afterwards, the company pledges to maintain a constant 5% growth rate in dividends forever. If the required return on the stock is 12%, calculate the fair value of the stock
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