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What is the current value of the company stock

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Michigan Co. is expected to pay a dividend of $1.50 per share one year from now. The dividends are expected to grow at 15% per year for the next five years (years 1-6) and then grow 5% per year thereafter (from year 7 and beyond). The discount rate is 18%. What is the current value of the company's stock?

Reference no: EM131821783

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