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Your company has just successfully completed some R&D work that leads you to expect that its earnings and dividends will grow at a rate of

Your company has just successfully completed some R&D work that leads you to expect that its earnings and dividends will grow at a rate of 11.90% for the next 5 years, after which growth should match the 5.20% industry average growth rate, which is a more sustainable rate. The last dividend paid (D0) was $1.08 and your firm's WACC is 11.53%. What is the value per share of your firm's stock?

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