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Suppose that you are a stock analyst and are asked to estimate the stock price of a firm called ''Friday''. The dividends are paid at

Suppose that you are a stock analyst and are asked to estimate the stock price of a firm called ''Friday''. The dividends are paid at the beginning of every quarter, and the quarterly growth rates are estimated to be 25%, 20%, 15%, 10% per quarter for the first four quarters respectively, and stay constant as 5% thereafter. The effective quarterly interest rate is 10% per quarter. You are on Dec 31st today and the next dividend shareholders are just about to receive is $1. What is the expected stock price at the end of 15 years in the future?

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