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Enchancia Incorporated has common stock that is expected to grow at a rate of 25%...

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Finance

Enchancia Incorporated has common stock that is expected to grow at a rate of 25% over the next year. After this first year, it will stabilize to a 2% long-term growth rate. If the dividend just paid was $1.95 and the required rate of return on the stock is 9%, what is the value of the stock today (to 2 decimals)?

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