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Sin City Adventures ( SCA ) is a startup company that offers guided tours of Las Vegas. SCA will pay its first dividend ( $

Sin City Adventures (SCA) is a startup company that offers guided tours of Las Vegas. SCA will pay its first dividend ($1.50) later today. SCA expects to be able to increase that dividend by 20% for 4 years. Thereafter, SCA expects to increase its annual dividend by 2 percent per year. What is the current value of one share of SCA stock if the required rate of return is 15 percent?

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