Stewart Industries just paid a $3.00 per share dividend on its common stock. The dividend...
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Stewart Industries just paid a $3.00 per share dividend on its common stock. The dividend is expected to grow 25 percent the first year, then 10% over the following two years later, after which time the dividend is expected to grow at a constant rate of S percent a year. The stock's required rate of return is 11% up to year 3, and then changes to 9% thereafter. What is the company's current stock price? Show the company's timeline!
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