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You forecast that the dividend per share of Stock X would be $1 in year one, $2 in year two, and $3 in year three.

You forecast that the dividend per share of Stock X would be $1 in year one, $2 in year two, and $3 in year three. After you receive $3 dividend in year three, you can then sell it at $50 immediately. If the required return rate is 10%, what is the value of the stock today?

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