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Stock A just distributed a dividend of $4. It is expected that the company will...

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Finance

Stock A just distributed a dividend of $4. It is expected that the company will increase its dividend by 18% in the coming year, 15% in the second year and 10% in the third year. After the third year, the company will maintain the dividend growth rate at 8% forever. How much would Stock A be worth today if its yearly required rate of return is 15%?

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