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You are considering whether to invest in a high-technology company. The company plans to pay its first annual dividend, next year of $4.30. According to

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You are considering whether to invest in a high-technology company. The company plans to pay its first annual dividend, next year of $4.30. According to financial analysts, this dividend is expected to grow by 10% in year 2 and 30% in year 3. After year 3. the annual dividend is expected to grow by 4% per year indefinitely. If your required return on investment is 17%, what is the maximum price that you'd pay for the stock? Calculate the annual dividends to the nearest penny ($0.01 per share. Calculate present value to the nearest 1/100 of a dollar with no commas and dollar sign, e.g. 12.36)

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