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Thompsen Enterprises is a rapidly growing firm that reinvests all of its income into future projects. Thus, the firm does not pay any dividends, nor

Thompsen Enterprises is a rapidly growing firm that reinvests all of its income into future projects. Thus, the firm does not pay any dividends, nor does it intend to do so any time in the future. Explain how and why the dividend growth model can or cannot be used to value the stock of this firm.

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