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The common stock of Winners Corp. has just paid a dividend of $2.00 per share. Dividends are expected to grow at a rate of 100%

The common stock of Winners Corp. has just paid a dividend of $2.00 per share. Dividends are expected to grow at a rate of 100% per year for the first two years and 50% the third year. After the end of the third year, dividends will grow at a constant rate of 10% indefinitely. How much is the intrinsic value of this common stock today if its required return is 20%?

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