Question: Adams engineering currently does not pay a dividend. They will begin paying a dividend of $2, 4 years from today. Once issued the dividend will

Adams engineering currently does not pay a dividend. They will begin paying a dividend of $2, 4 years from today. Once issued the dividend will grow at a rate of 20%per year- During years 5 through 8; but after year 8, growth should be a constant 5% per year. If the required return on Adams is 12%, what is the value of the stock today?

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