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Synovec Corp. is experiencing rapid growth. Dividends are expected to grow at 2 8 percent per year during the next three years, 1 8 percent

Synovec Corp. is experiencing rapid growth. Dividends are expected to grow at

28

percent per year during the next three years,

18

percent over the following year, and then

5

percent per year indefinitely. The required return on this stock is

10

percent, and the stock currently sells for $

98

per share. What is the projected dividend for the coming year?

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