A stock will pay no dividends for the next 5 years. Six years from now,...
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A stock will pay no dividends for the next 5 years. Six years from now, the stock is expected to pay its first dividend in the amount of $2.9. It is expected to pay a dividend of $3.6 exactly seven years from now. The dividend is expected to grow at a rate of 5% per year forever after that point. The required return on the stock is 14%. The stock's estimated price per share exactly FIVE years from now, P5 , should be $______.
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