Common shares of the Cisco company were trading on the Toronto Stock Exchange at the end of
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Question:
Year Growth rate
2021 7%
2022 5%
2023 4%
2024 3%
Thereafter, the annual dividend would increase by 2.5% per year and this indefinitely. Based on an investor demand of 15%, was Cisco's stock overvalued or undervalued by the market?
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