Because of a lucky breakthrough, Philadelphia Pharmaceuticals current dividend per share of $2.00 is expected...
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Because of a lucky breakthrough, Philadelphia Pharmaceuticals current dividend per share of $2.00 is expected to grow at a very high 32 percent per year for the next three years and then to grow at a more normal 6 percent per year. What is the value of a Philadelphia share if the investors expected return is 20 percent?
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