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4. Macro Systems just paid an annual dividend of $0 for the next three years (D1 through D3), after which it will grow at a y
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Answer #1

Current price of the stock = $19.80

Do = 0.32 Double D = 0.64 7 Da = 1.28 T D3 = 2-56 Du = D3 x 1:02= 2.6112 geowth Du present value of stock at years - (PU) Re-

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