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With the answer above in #1 - Hence, the value per share, P0 = D0 x (1 + g) / (Ke - g) = 2.13
With the answer above in #1 - Hence, the value per share, P0 = D0 x (1 + g) / (Ke - g) = 2.13 x (1 + 12.63%) / (18% - 5%) = $ 44.71 per share. Where does the 5% come from
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