Question: The current dividend on a stock is $2 per share and investors require a rate of return of 12%. Dividends are expected to grow at

The current dividend on a stock is $2 per share and investors require a rate of return of 12%. Dividends are expected to grow at a rate of 15% per year over the next three years and then at a rate of 3% per year from that point on. Find the price of the stock.

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