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A company is expected to pay its first dividend next year in the amount of $.67 ...
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A company is expected to pay its first dividend next year in the amount of $.67 a share. The following dividends will be $.72, $.87, and $1.17 a share annually for the following three years, respectively. After the third year, dividends are expected to increase by 3.7 percent per year. If the appropriate discount rate is 11%, the stock is expected to be valued today at:
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