Question: value: 8.34 points Problem 8-33 Variable Growth (LG8-6) A fast-growing firm recently paid a dividend of $0.90 per share. The dividend is expected to increase

value: 8.34 points Problem 8-33 Variable Growth (LG8-6) A fast-growing firm recently paid a dividend of $0.90 per share. The dividend is expected to increase at a 10 percent rate for the next three years. Afterwards, a more stable 5 percent growth rate can be assumed. If a 6 percent discount rate is appropriate for this stock, what is its value today? (Do not round intermediate calculations Round your final answer to 2 decimal places.) Stock value HintsReferences eBook &Resources Hint#1

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