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The Bell Weather Company is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 1 5

The Bell Weather Company is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 15 percent a year for the next 4 years and then decreasing the growth rate to 5 percent per year. The company just paid its annual dividend in the amount of $2.20 per share. What is the current value of one share of this stock if the required rate of return is 7.70 percent?
Multiple Choice:
$123.81
$121.61
$151.84
$149.64
$111.22

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