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The Finance manager has just informed you that TikTok stock will continue to pay a dividend of $4.25 for the next 6 years. The current

The Finance manager has just informed you that TikTok stock will continue to pay a dividend of $4.25 for the next 6 years. The current cost of equity for TikTok is 8.75%. After that, the Finance manager expects the cost of equity to drop to 7.50% and the dividend to increase by 2% per year. What is the value of TikTok stock?

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