Jones Electric Company Inc., just developed a revolutionary new type of method used to generate...
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Jones Electric Company Inc., just developed a revolutionary new type of method used to generate solar electricity which is extremely efficient for use in a certain geographic location. As a result, Jones Electric is expected to experience a 15 percent rate of growth for the next 5 years, after which, growth will slow to 5 percent into the foreseeable future. The market requires a 12 percent return on Jones Electric stock and the most recent dividend paid was $1.75 per share. Calculate the theoretical value of the stock today.
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