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Growing at a constant rate

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Reference no: EM131042001

ART Company just paid a dividend of $2.00. The dividend is expected to grow by 8% this year, 7% in year two and 6% in year three. Then, beginning in year four, the dividend will begin growing at a constant rate of 4%. With a required return of 12%, what is the stock worth today?

Reference no: EM131042001

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