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You believe that a stock will pay a dividend of $ 3 in one year, $ 4 in two years, $ 5 in three years,
You believe that a stock will pay a dividend of $ in one year, $ in two years, $ in three years, and $ in four years. If you believe you will be able to sell the stock for $ immediately after receiving the fourth dividend, how much are you willing to pay for the stock today if you require a rate of return?
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