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The price of a stock at Year 4 can be expressed as: -D0(1+R)5D4/(Rg)D5/(Rg)D1(1+R)5-D0/(R+SH)

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The price of a stock at Year 4 can be expressed as: -D0(1+R)5D4/(Rg)D5/(Rg)D1(1+R)5-D0/(R+SH)

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