Question: What is the value of a common share with an expected perpetual stream of annual dividends, with the first dividend of $2.00 to be received

What is the value of a common share with an expected perpetual stream of annual dividends, with the first dividend of $2.00 to be received in one year and with all subsequent dividends growing at a rate of 5 percent, assuming a required rate of return of 12 percent?

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