Question: Up until the current year 2019, AZ Ltd. has maintained a strict 10% annual dividend growth rate policy. The company will however pay dividends of

Up until the current year 2019, AZ Ltd. has maintained a strict 10% annual dividend growth rate policy. The company will however pay dividends of $0.30 and $0.27 over the next two years respectively and will return to a constant growth rate policy in the year 2022. Determine the current price of the stock if the company will set the constant growth rate in 2022, 1% above the growth rate of the previous two dividends paid and the required rate of return is 7%?

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