A stock will pay dividends for the first time exactly 5 years from today. They...
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A stock will pay dividends for the first time exactly 5 years from today. They will pay $15/share in year 5. They will maintain a zero growth dividend policy from year 5 to year 15. After they make their dividend payment in year 15, they will stop paying dividends altogether. R=20%. Calculate the stock price.
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