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Suppose a firm is expected to increase dividends by 5% in one year and by 10% for another three years. After that, dividends will increase

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Suppose a firm is expected to increase dividends by 5% in one year and by 10% for another three years. After that, dividends will increase at a rate of 1% per year indefinitely. If the last dividend paid was $1 and the required return is 8%, what is the price of the stock

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