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Runyon Industries is expected to enjoy rapid growth in dividends of 30 percent a year for the next three years, Growth is then expected to

Runyon Industries is expected to enjoy rapid growth in dividends of 30 percent a year for the next three years, Growth is then expected to slow to 20 percent a year for the next five years, Do is $2. The beta for this stock is 1.5. the expected return on the market is 11 percent, and the risk-free rate is 5 percent. What is the estimated price of Runyon

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