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Suppose a company is planning to pay dividends with the following schedule: In year one, dividends D1 = $13; In year two, dividends D2 =
Suppose a company is planning to pay dividends with the following schedule: In year one, dividends D1 = $13; In year two, dividends D2 = $9; In year three, dividends D3 = $6; In year four, dividends D4 = $2.75; Thereafter, dividends will grow at a constant growth rate of 5% forever. We also know that shareholders of the company requires a return of 10.75% on the stocks. Please calculate the current share price. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current share price
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