Faulkner Corporation Just Paid $2 Per Share

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Faulkner Corporation

Faulkner Corporation just paid $2 per share. For the next three years the dividend is expected to grow by 25 percent per year, after which time the dividend is expected to grow at a constant rate of 6.78 percent per year. The stock has a required rate of return of 10 percent. Assuming that the stock is fairly valued, what is the price of the stock today?

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