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The ABX News Co . paid the last dividend ( D 0 ) of $ 2 / share , and the dividend is expected to

The ABX News Co

.

paid the last dividend

(

0)

of $

2 /

,

and the dividend is expected to grow at a rate of

12 %

over the next

4

years. It will then grow at a normal, constant rate of

3 %

for the future. The rate of return is

11 % .

What should the stock price be today?

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