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TelTec Inc. has a patent that will expire in two years. The firm is expected to grow at 10% for the next two years and
TelTec Inc. has a patent that will expire in two years. The firm is expected to grow at 10% for the next two years and dividends will be paid at year end. It just paid a dividend of $1. After two years, the growth rate will decline to 4% immediately, and the firm will grow at this rate forever. If the required rate of return is 11%, value the firm's current share price.
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