Question: UT s last dividend ( D 0 ) was $ 0 . 6 0 . The dividend growth rate is expected to be constant at

UTs last dividend (D0) was $0.60. The dividend growth rate is expected to be constant at 7.0% each year for 2 years, after which dividends are expected to grow at a rate of 4.0% forever. The firm's required return (rs) is 10.0%. What is the best estimate of the current stock price?

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