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Sea Side, Inc., just paid a dividend of $2.12 per share on its stock. The growth rate in dividends is expected to be a constant 3.2 percent per year indefinitely. Investors require a return of 17 percent on the stock for the first three years, then a 12 percent return for the next three years, and then a 10 percent return thereafter. What is the current share price?

Financial Management, Finance

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