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Red Sun Rising just paid a dividend of $2.31 per share. The company said that...

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Accounting

Red Sun Rising just paid a dividend of $2.31 per share. The company said that it will increase the dividend by 15 percent and 10 percent over the next two years, respectively. After that, the company is expected to increase its annual dividend at 4.1 percent. If the required return is 11.1 percent, what is the stock price today?

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