Question: Please present all final answers to two decimals for number (e.g. 1.23) and two decimals for percent FULL working must be presented (with formulas, working

Please present all final answers to two decimals for number (e.g. 1.23) and two decimals for percent

FULL working must be presented (with formulas, working stages, and results with units).

Please present all final answers to two decimals for number (e.g. 1.23)

Question 2 (10 marks): Assume a stock currently pays a dividend of $2 for the year. The expected annual dividend growth is 12% for the next three years and 8% thereafter for an indefinite period. The appropriate required rate of return is 10%. What is the value of a share of this stock today? (10 marks) (Show ALL workings)

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