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Wyatt Oil presently pays no dividend. You anticipate Wyatt Oil will pay an annual dividend of $ 0 . 5 6 per share two years

Wyatt Oil presently pays no dividend. You anticipate Wyatt Oil will pay an annual dividend of $

0.56

per share two years from today and you expect dividends to grow by

4 %

per year thereafter. If Wyatt Oil's equity cost of capital is

12 %,

then the value of a share of Wyatt Oil today is:

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