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The Fairfield Company's last dividend was $2.00. Its dividend growth rate is expected to be...

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Accounting

The Fairfield Company's last dividend was $2.00. Its dividend growth rate is expected to be constant at 15% for 2 years, after which dividends are expected to grow at a rate of 12% forever. Fairfield's required rate of return is 14%.

Fairfield's horizon or terminal value is :

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