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Combined Communications is a new firm in a rapidly growing industry. The company is planning on...

Combined Communications is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 15 percent a year for the next 4 years and then decreasing the growth rate to 3.5 percent per year. The company just paid its annual dividend in the amount of $0.20 per share. What is the current value of one share of this stock if the required rate of return is 17 percent?

Group of answer choices $2.20 $2.38 $2.49 $2.71 $3.05

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Answer to the Question is Option "$2.20"

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