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s3. Ninando LTD. paid $20 in dividends yesterday, the dividends are expected to grow by 6% in the next three years, followed by a growth

s3. Ninando LTD. paid $20 in dividends yesterday, the dividends are expected to grow by 6% in the next three years, followed by a growth of 10% for two years, 12% for three years, and eventually the dividends will grow by 5% forever. The required return on shares with a similar risk is 13%. What is the value of each share?

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