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What is the current share price

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Joven Corp. is a young start-up company and therefore is not paying any dividends on the stock over the next 9 years. The company will start paying a $3 per share dividend at the end of year 10 and thereafter it will increase the dividends by 3% per year forever. If the required rate of return on this stock is 9%, what is the current (today's) share price?

Reference no: EM132345651

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