Question: D 0 = $ 1 . 1 5 r s = 1 3 . 4 % Growth rate from Year 0 to Year 1 =

D0= $1.15
r s =13.4%
Growth rate from Year 0 to Year 1=30%
Growth rate from Year 1 to Year 2=20%
Growth rate from Year 2 to Year 3=10%
Constant long-run growth rate for all years after Year 3=8%
What is the intrinsic stock price at Year 0?

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