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CAR inc. is a new? start-up company and will not pay dividends for the first five years of operation. It will then institute an annual cash dividend policy of ?$2.75 with a constant growth rate of 6.00% with the first dividend at the end of year six. The company will be in business forever. What is the price of this stock today if the required return is 12?%? The stock price today for CAR Inc. is

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