Question: Ianco has decided to increase its annual dividends by 5 percent a year for the next three years and there would be no growth of

Ianco has decided to increase its annual dividends by 5 percent a year for the next three years and there would be no growth of dividends thereafter (i.e., the dividends remain the same indefinitely, from t=3). The company just paid a dividend of $2 per share. What is the market value of Ianco's stock, if the required rate of return is 11%?(write your answer in two decimals, e.g., if your answer is 35.74, write 35.74).

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