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You are considering to buy stocks of a new firm NNN. The firms first future dividend will be $1 per share. The dividend payment is

You are considering to buy stocks of a new firm NNN. The firms first future dividend will be $1 per share. The dividend payment is expected to increase by 20% in the first two years, 10% in the following two years, afterwards 2% forever. Your required return is 10%. What is the maximum price you are willing to pay?

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