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A corporation stock will pay a dividend next year of $1.26 (that's one year from...

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Finance

A corporation stock will pay a dividend next year of $1.26 (that's one year from today!!!) and have a growth rate of dividends of 10% between that point and two years from today. After that point (from t = 2 forward) it will have a constant growth rate of 5% . Using a discount rate of 7% to calculate the price of the stock to the nearest cent.

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