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Lohn Corporation is expected to pay the following dividends over the next four years: $7,...

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Accounting

Lohn Corporation is expected to pay the following dividends over the next four years: $7, $5, $2, and $1. Afterward, the company pledges to maintain a constant 6 percent growth rate in dividends forever. If the required return on the stock is 14 percent, what is the current share price?

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