Crimson Company is in a growth phase. As such, it doesn't pay dividends. You expect...
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Crimson Company is in a growth phase. As such, it doesn't pay dividends. You expect it to pay its first dividend of $7.17 exactly 8 years from now and continue paying that annual dividend every year thereafter. If the appropriate discount rate for Crimson stock is 8.6%, what is its intrinsic value? Round your answer to the nearest penny.
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