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Brennan Corporation is expected to pay a dividend of $1.20 on its common stock one...

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Finance

Brennan Corporation is expected to pay a dividend of $1.20 on its common stock one year from now. Subsequent annual dividends are expected to be $1.90, $2.50, and $3.00. After that, the annual dividend is expected to grow at 2.2% per year. Given a discount rate of 12.6%, what is the current price of Brennan stock?

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