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Your company just paid a dividend of $2.00. The growth rate is expected to be 4 percent for 1 year, 5 percent the next year,

Your company just paid a dividend of $2.00. The growth rate is expected to be 4 percent for 1 year, 5 percent the next year, then 6 percent for the following year, and then the growth rate is expected to be a constant 7 percent thereafter. The required rate of return on equity is 10 percent. What is the current stock price?

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