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To verify their calculations. Carrington and Genevieve have hired Josh Schlessman as a consultant. Josh was previously an equity analyst and covered the HVAS industry.

To verify their calculations. Carrington and Genevieve have hired Josh Schlessman as a consultant. Josh was previously an equity analyst and covered the HVAS industry. Josh has calculated the company's financial statement, as will as examining its competitors. Although Regan Inc., currently has a technological advantage, his research shows that other companies are investigating methods to improve efficiency. Given this, Josh believes that the company's technological advantage will last only for the next five years. After that period. The company's growth will likely slow to the industry growth average. Additionally Josh believes that the needed return used by the company is too high. He believes the industry average required return is more appropriate. Under this growth assumption, what is your calculation of the stock price?

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