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Shabbaz Inc. JUST paid its annual dividend of $35 per share. The dividends are expected to grow at 25 percent annually for the next 3

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Shabbaz Inc. JUST paid its annual dividend of $35 per share. The dividends are expected to grow at 25 percent annually for the next 3 years and then level off to an annual growth rate of 4 percent indefinitely. What is the price of this stock today given a required return of 12 percent? (Round all Intermediate calculations to 4 decimal places.) Chint keep in mind that the price is the present value of all dividends during nonconstant growth PLUS the present value of the price when growth becomes constant) Multiple Choice $9.16 O $9.36 $8.89 O $764 $973

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