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Suppose a firm is expected to increase dividends by 20% in one year and by 15% in two years. After that, dividends will increase at

Suppose a firm is expected to increase dividends by 20% in one year and by 15% in two years. After that, dividends will increase at a rate of 5% per year indefinitely. If the next dividend is $1.20 and the required return is 20%, what is the price of the stock ?

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