Question: A firm has just declared that its dividend next year will be $4 per share. That amount of payment will continue for an additional 5

A firm has just declared that its dividend next year will be $4 per share. That amount of payment will continue for an additional 5 years, after which the annual dividend payment will fall back to the usual $2 per share, forever. If the EAR is 10%, then what is the present value of the company's future dividendo

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