Question: A firm does not pay a dividend. It is expected to pay its first dividend of $ 0 . 3 8 per share in three

A firm does not pay a dividend. It is expected to pay its first
dividend of $0.38 per share in three years. This dividend will grow at 9 percent indefinitely. Use a 10 percent discount rate.Compute the value of this stock.(Round your answer
to 2 decimal places.)

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