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Whatley Inc. paid a dividend of $3 last year. The firm is expecting dividends to grow at rate of 20% in years 1- 3. After

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Whatley Inc. paid a dividend of $3 last year. The firm is expecting dividends to grow at rate of 20% in years 1- 3. After that growth is expected to be constant at 9% per year. Similar investments return 14%. Calculate the value of this stock today. 2 points

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