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The risk - free rate is 3 . 9 5 % and the market risk premium is 8 . 8 7 % . A stock

The risk-free rate is 3.95% and the market risk premium is 8.87%. A stock with a \beta of 1.23 just paid a dividend of $1.06. The dividend is expected to grow at 20.72% for five years and then grow at 4.48% forever. What is the value of the stock?

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