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Suppose that Kitten Mittens Inc. currently pays a dividend of $2. The dividend is expected to grow at a rate of 8% for the next
Suppose that Kitten Mittens Inc. currently pays a dividend of $2. The dividend is expected to grow at a rate of 8% for the next 3 years; then it will grow at 4% forever. The appropriate discount rate is 12%. What is the price of one share of Kitten Mittens stock? (Do not include dollar signs or commas in your answers)
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