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HakunaMatata has common stock that is expected to grow at a rate of 17% over...

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Finance

HakunaMatata has common stock that is expected to grow at a rate of 17% over the next year. After this first year, it will stabilize to a 2% long-term growth rate. If the dividend just paid (D0) was $2.01 and the required rate of return on the stock is 6%, what is the value of the stock today (to 2 decimals)?

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