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Walmart has just paid an annual dividend of $ 3 . 8 2 . Dividends are expected to grow by 6 % for the next

Walmart has just paid an annual dividend of $

3.82 .

Dividends are expected to grow by

6 %

for the next

4

years, and then grow by

2 %

thereafter. Walmart has a required return of

11 % .

What is the value of the stock now?

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