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The McMillan Corporation paid a dividend of $2.40 per share over the last 12 months. The dividend is expected to grow at a rate of
The McMillan Corporation paid a dividend of $2.40 per share over the last 12 months. The dividend is expected to grow at a rate of 25% over the next three years. It will then grow at a normal, constant rate of 6% for the foreseeable future. The required rate of return is 14%. What is the maximum price that you would be willing to pay for this stock
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