Question: Company A does not expect to pay any dividends for the next three years. Four years from now, the firm hopes to pay $.60 a

Company A does not expect to pay any dividends for the next three years. Four years from now, the firm hopes to pay $.60 a share and double that amount each year for the following three years. After that, the dividend is expected to increase in value by 3 percent annually. What is the price of this stock today if the required return is 12 percent?

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