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SlowGrowth Corporation currently pays a dividend of $ 6 per year. Stock analysts expect the company would continue to pay the current dividend amount for

SlowGrowth Corporation currently pays a dividend of $6 per year. Stock analysts expect the
company would continue to pay the current dividend amount for two years and, after the two
years, increase dividend by 1% per year in perpetuity. According to the stock analysts forecast
of future dividends, what should be the stock price today if the discount rate is 6%?

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