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Business, 10.08.2021 20:30 ijohnh14

GenEx Corp., a maker of youthful sporting goods, is expected to pay its first dividend three years from now. The company says it will then pay a dividend every three months in perpetuity. The first five dividends are each expected to be $0.20. Dividends thereafter will increase: each is expected to be 2% larger than the previous. If your required rate of return on this risky stock is 15% per year, expressed as an effective annual rate, what is the present value of the expected dividend stream

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