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Daily Movers is a relatively new firm. The company paid its first annual dividend yesterday...

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Finance

Daily Movers is a relatively new firm. The company paid its first annual dividend yesterday in the amount of $.40 a share. The company plans to double each annual dividend payment for the next 2 years. After that time, it is planning on paying a constant $2 per share indefinitely. What is one share of this stock worth today if the market rate of return on similar securities is 14.5%?

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