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What is the value of the stock today

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Reference no: EM132031170

Elliott Furniture, Inc. is experiencing a period of rapid growth. Earnings and dividends are expected to grow at a rate of 10% during the next 2 years , at 8% in the third year and at a constant rate of 6% thereafter. Elliott's last dividend was $1.60 and the required rate of return on the stock is 7%. What is the value of the stock today?

Reference no: EM132031170

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