Question: Andy s Tools Co . is planning on paying $ 1 . 2 0 , $ 1 . 4 4 , $ 1 . 7

Andys Tools Co. is planning on paying $1.20, $1.44, $1.728, and $2.0736 a share over the next four years, respectively. After that the dividend will be increased by 5% a year. What is the current value of one share if the required rate of return is 9.25%?

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