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Vinca Inc. has paid a dividend of $1.2 a share last year. Yesterday, the firm announced that the dividend will increase by 10 percent each

Vinca Inc. has paid a dividend of $1.2 a share last year. Yesterday, the firm announced that the dividend will increase by 10 percent each year for the next three years, after which time the dividends will increase by 3 percent annually. The required return on this stock is 13 percent. What is the current value per share?

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