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Dividend Initiation and Stock Value A firm does not pay a dividend. It is expected...

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Dividend Initiation and Stock Value A firm does not pay a dividend. It is expected to pay its first dividend of $0.26 per share in two years. This dividend will grow at 11 percent indefinitely. Using a 13 percent discount rate, compute the current value of this stock. Multiple Choice $11.50 $12.33 51192 516,59

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