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Wayne Corp. has the following expected dividends: $ 2 in one year, $ 2 . 5 in two years, and $ 3 in three years.

Wayne Corp. has the following expected dividends: $2 in one year, $2.5 in two years,
and $3 in three years. After that, its dividends are expected to grow at 5% per year
forever. If Wayne Corp equity cost of capital is 10%, what is the current price of its
stock?

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