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Your company just announced a dividend of $1.5 to be paid one year from now. Also, your company is establishing a policy whereby the dividend

Your company just announced a dividend of $1.5 to be paid one year from now. Also, your company is establishing a policy whereby the dividend will increase by 1.3 percent annually after that. How much will one share of this stock be worth 5 years from now if the equity cost of capital is 9 percent?

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