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You are considering to buy stocks of a new firm NNN . The firm just paid dividends $ 1 per share. The dividend payment is

You are considering to buy stocks of a new firm NNN. The firm just paid dividends $1 per share. The dividend payment is expected to increase by 20% in the first year, 10% in the following two years, afterwards 3% forever. Your required return is 10%. What is the maximum price you are willing to pay?
(Answer format: keep 1 digit after decimal point. e.g.,1.46->1.5)

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