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Ted McKay has just bought the common stock of Cullumber Corp. Management of Cullumber expects the company expects to grow at the following rates for

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Ted McKay has just bought the common stock of Cullumber Corp. Management of Cullumber expects the company expects to grow at the following rates for the next three years: 40 percent, 35 percent, and 25 percent. Last year the company paid a dividend of $2.20. Assume a required rate of return of 10 percent Compute the expected dividend for the first year, (Round answer to 2 decimal places, e.g. 15.25) 01 Compute the expected dividend for the second year. Round answer to 2 decimal places, eg 1525.) D2 Compute the expected dividend for the third year round ta decimal places, eg, 1525) 03 Compute the presentate of these dividends of the date of returi 10 percent on to 2 decimales 15.25) Pent

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