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Tat payment will be 310 a share starting in year six the

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B&T, Inc. is expected to pay its first annual dividend five years from now. That payment will be $3.10 a share. Starting in year six, the company will increase the dividend by 2 percent per year. The required return is 15 percent. What is the value of this stock today? 

Reference no: EM13571558

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