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A has just paid a dividend of 3 dollars per share. The company is experiencing...

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Finance

A has just paid a dividend of 3 dollars per share. The company is experiencing a period of rapid growth and expects that its dividends will grow at a rate of 15% per annum during the next 2 years, followed by a constant rate of 6% thereafter. The required rate of return on the company's stock is 12% per annum. What is the current share value for Rosedale Corp? (Round your final answer to two decimal places if needed)

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