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The most recent annual dividend of XYZ Ltd. was $1.80 per share and the required return is 11%. The management estimated that the dividends were
The most recent annual dividend of XYZ Ltd. was $1.80 per share and the required return is 11%. The management estimated that the dividends were expected to grow at a rate of 8% annually for three years, followed by a 5% constant annual growth rate in years 4 through infinity. The price of XYZ's stock should be about
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