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Tech Corporation is expanding rapidly and currently needs to retain all its earnings: hence, it does not pay dividends. However, investors expect Tech to begin

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Tech Corporation is expanding rapidly and currently needs to retain all its earnings: hence, it does not pay dividends. However, investors expect Tech to begin paying dividends. beginning with a dividend of $1.75 coming 3 years from today. The dividend should grow rapidly-at a rate of 30% per year during Years 4 and 5; but after Year 5, growth should be a constant 5% per year. If the required return on Tech is 13%, what is the value of the stock today? U AI EX31XXE - VTT: 12pt Paragraph

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