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Upton Corporation is expected to pay the following dividends over the next four years: $18 in year 1, $14 in year 2, $10 in year
Upton Corporation is expected to pay the following dividends over the next four years: $18 in year 1, $14 in year 2, $10 in year 3, and $5.50 in year 4. Afterwards, the company pledges to maintain a constant 4 percent growth rate in dividends forever. If the required return on the stock is 12 percent, what is the current share price?
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