Question: A stock will begin to pay its first dividend payment 6 years from now. The dividend payment will be $8/share at that time. From year

A stock will begin to pay its first dividend payment 6 years from now. The dividend payment will be $8/share at that time. From year 6 to year 22, they will maintain a zero growth dividend policy and then afterward, they will not pay anymore dividend payments. R = 18%. Calculate the stock price.

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