Question: A stock is expected to pay its first $66 dividend in 6 years from now. The dividend is expected to be paid annually forever and

A stock is expected to pay its first $66 dividend in 6 years from now. The dividend is expected to be paid annually forever and grow by -2% pa (note the negative sign). The discount rate is 4% pa. Estimate the current stock price. the current stock price should be?

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