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The Heflin Corporation is paying dividends of $1.69 at t = 1 ( this is at t = 1, not t = 0) which will
The Heflin Corporation is paying dividends of $1.69 at t = 1 ( this is at t = 1, not t = 0) which will then grow at rate of 11% between t = 1 and t = 2 only and thereafter grow at the rate of 5% into the foreseeable future. What should be the price of Heflin, to the nearest cent, if investors use 7% to discount the risky cash flows?
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