Question: MBA Inc. will pay a dividend for the first time at the end of 2016. projects the following dividend per share : 2016 $ 1.50

MBA Inc. will pay a dividend for the first time at the end of 2016. projects the following dividend per share : 2016 $ 1.50 2017 $ 2.00 2018 $ 2.50 Beginning with 2016 dividends will grow at 4 % per year . The required rate of return is 12 % . The intrinsic value of MBA shares is

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