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Story Company just paid a dividend of RM1.20 per share. The company is experiencing rapid growth and expects dividends to grow at 20 percent per

Story Company just paid a dividend of RM1.20 per share. The company is experiencing rapid growth and expects dividends to grow at 20 percent per year for the next 4 years before levelling off at 6 percent into perpetuity.

The required rate of return on the company is 12 percent, what is the stock price today? (7 marks)

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