Question: A company does not currently pay a dividend. You expect the company to begin paying a $ 2 . 1 6 per share dividend in

A company does not currently pay a dividend. You expect the company to begin paying a $2.16 per share dividend in 9 years, and you expect dividends to grow perpetually at 5.54% per year thereafter. If the discount rate is 11.94%, how much is the stock currently worth?

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