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What is the most you would pay for the stock now

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Reference no: EM132419880

Grow On, Inc. is a firm that is experiencing rapid growth. The firm yesterday paid a dividend of $5.10. You believe that dividends will grow at a rate of 15% per year for years one and two, 15% per year for years three and four, and then at a rate of 9% per year thereafter. If you expect an annual rate of return of 14% on this investment, what is the most you would pay for the stock now?

Reference no: EM132419880

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