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You are considering an investment in the stock of Matt, Co. Last year, the company...

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Finance

You are considering an investment in the stock of Matt, Co. Last year, the company paid a dividend of $3.7. You believe dividends with grow at 6.3% for the next four years, and after that they will grow at 2.8% forever. What is the value of Matt, Co. stock today if the appropriate discount rate is 9.6%? Enter your answer in dollars without the $ sign (i.e., if your answer is $10.42 type 10.42).

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