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QUESTION
Rove Corporation's current dividend (D0) is $4 per share. The growth rate in dividends over the next three years is forecasted at 12%.
Rove Corporation's current dividend (D0) is $4 per share. The growth rate in dividends over the next three years is forecasted at 12%. After that, Rove's growth rate is expected to equal the industry average of 5%. If the required return is 18%, what is the current value of the stock?
