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Procter and Gamble​ (PG) paid an annual dividend of $2.96 in 2018. You expect PG to...

Procter and Gamble​ (PG) paid an annual dividend of $2.96 in 2018. You expect PG to increase its dividends by 7.3% per year for the next five years​ (through 2023), and thereafter by 2.8% per year. If the appropriate equity cost of capital for Procter and Gamble is 7.7% per​ year, use the​ dividend-discount model to estimate its value per share at the end of 2018.

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