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R.E. Lee recently took his company public through an initial public offering. He is expanding the business quickly to take advantage of an otherwise unexploited market. Growth for his company is expected to be 40 percent for the first three years and then he expects it to slow down to a constant 15 percent. The most recent dividend was $0.75. Investors require a 17 percent return on Lee's stock. What is the current price of Lee's stock?

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Category:- Financial Management
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