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QUESTION
Universal lASER JUST PAID A DIVIDEND OF $2.75 IN IT;S STOCK. tHE GROWTH RATE IN DIVIDENDS IS EXPECTED TO BE CONSTANT 6% PER YEAR.
Universal lASER JUST PAID A DIVIDEND OF $2.75 IN IT;S STOCK. tHE GROWTH RATE IN DIVIDENDS IS EXPECTED TO BE CONSTANT 6% PER YEAR. iNVESTORS REQUIRE A 16% RETURN ON THE STOCK FOR THE FIRST THREE YEARS, A 14% RETURN FOR THE NEXT THRE YEARS, AND THEN AN 11% RETURN. wHAT IS THE CURRENT SHARE PRICE FOR THE STOCK?
