What is the value of the stock at the end of the first year

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A successful joint venture is expected to result in the 4.0% growth rate until 2000 but would increase the company’s normal growth rate to a constant 8.00% after that time. The joint venture also is expected to increase investors’ required return to 9.50%. a. Based on this information, what is the value of the company’s stock? b. What is the value of the stock at the end of the first year assuming that the stock is in equilibrium?

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