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Section 1. Question 6. Innova Tech (IT) company is getting well known among analysts due to its planned dividend payment. The company plans to pay

Section 1. Question 6. Innova Tech (IT) company is getting well known among analysts due to its planned dividend payment. The company plans to pay $0.80 a share next year, $1.20 a share the following year, and $1.60 a share the year after. After that, it grows at an annual constant rate of 4% forever. What is the price of IT's stock today if the market rate of return on similar stock is 10%? Which is more difficult to do valuation? A stock or a bond? Explain in your own words

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