Question: FIN Question ! What would you be willing to pay for the following share of stock? The company's most recent dividend was $2. Dividends are

FIN Question !

What would you be willing to pay for the following share of stock?

The company's most recent dividend was $2.

Dividends are expected to grow by 10% the first two years, by 7 percent the next two years, and then at a rate of 5% for the unforeseeable future.

The required rate of return is 13%.

Answer calculated is $29.64

Please confirm thank you

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